UPDATE 1-Suffering Greece's economy shrank again at end of last year

Mon Mar 11, 2013 7:15am EDT

* Q4 GDP shrinks 5.7 pct, less than previous flash estimate

    * Slump in consumption continues, imports fall

    * GDP seen contracting by 4.5 pct this year

    ATHENS, March 11 (Reuters) - Greece's economy shrank at an

annual 5.7 percent in the last quarter of 2012, combining for a

20 percent slump in real terms

since 2008.

    It would have been worse but for a 17.5 percent drop in the

country's fourth quarter trade gap, the country's statistics

service ELSTAT said on Monday

    The revised gross domestic product data showed a slightly  a

milder contraction than a 6 percent flash estimate made in

February, but Greece is still expected to contract for a sixth

straight year this year,

    The government and the central bank both project a 4.5

percent 2013 contraction.

    "The preliminary data confirmed the continuing contraction

of domestic demand, with lower imports providing a positive

influence," said Eurobank economist Platon Monokroussos.

    Consumption, the main driver behind Greece's gross domestic

product (GDP), fell 9 percent year-on-year, continuing to weigh

on output.

    Gross capital investment fell 10.3 percent in the fourth

quarter, its rate of decline slowing compared to previous

quarters.

    The latest figures bring the full-year 2012 contraction to

6.4 percent, broadly in line with government projections.

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    source: ELSTAT