The Greek economy grew confirming market expectations.

The Greek economy expanded for the first time in six years, according to data released Friday, which showed the country's recession ravaged economy grew an annual 1.7% in the third quarter of the year.

The Greek economy grew by three consecutive quarters based on seasonally-adjusted GDP data. The growth rate came after a record tourism season for Greece, improved economic sentiment and steady consumer spending, economists say.

In a statement, the Hellenic Statistical Authority, or Elstat, also said it revised its estimate for second-quarter gross domestic product growth to 0.4% from a decline of 0.3% after adopting a new methodology. It also said the recession in the first three months of the year was milder than first thought, revising the GDP contraction to 0.4% from 1.1%.

On a quarterly basis, seasonally-adjusted data showed that Greek GDP grew 0.7%, Elstat said.

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