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Sixth consecutive quarter of GDP growth, at 2.9%

Posted on: 12/16/2016 3:49:56 AM under General News

For the sixth consecutive quarter economic growth has been reported for Cyprus, with the third quarter of 2016 recording a growth rate of 2.9% according to the Cyprus Statistical Service.

Τhe GDP growth rate in real terms during the third quarter of 2016 is positive and estimated at +2.9% over the corresponding quarter of 2015. Based on seasonally and working day adjusted data, GDP growth rate in real terms is estimated at +2.9%.

The increase of the GDP growth rate is mainly attributed to the sectors: "Hotels and Restaurants”, "Professional, Scientific and Technical Activities”, "Retail and Wholesale Trade”, "Manufacturing”, "Construction” and "Transport”. Negative growth rates were recorded by the sectors: "Financial Service Activities” and Information and Communication”.