The Greek economy is expected to contract in the first six months of 2016, according to a report by Eurobank. Eurobank’s analysis comes ahead of the official data expected to be announced by the Greek Statistical Services, and forecast the economy will be in recession due to a drop in private consumption and a decrease in exports over the period. The reports suggest the economy will return to growth during the second half of 2016, adding however, that this will depend on the household’s sentiment about the economy, which will affect their disposable income; the further improvement of the domestic credit conditions; the course of the negotiations of the 2nd review of the Greek adjustment program and the 3rd program; and finally, the global political and economic developments.