Greece’s economy contracted at its slowest pace in six years as indication that the company may be emerging from its debt crisis. Bloomberg reports that the Gross domestic product declined 0.2 percent in three months through June from the same period last year. In an e-mailed statement by the Athens-based Hellenic Statistical Authority, it was stated that this is the 24th straight contraction of the GDP and the smallest since the third quarter of 2008.

Greece’s six-year recession has been marked by budget cuts tied to 240 billion euros of loans from the eurozone and the International Monetary Fund that have demanded deep structural changes. The slump has cost Greece a quarter of its GDP and has increased the unemployment rate to 27.2%.