Sixth consecutive quarter of GDP growth, at 2.9%
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.
Î¤he 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 Restaurantsâ€, "Professional, Scientific and Technical Activitiesâ€, "Retail and Wholesale Tradeâ€, "Manufacturingâ€, "Constructionâ€ and "Transportâ€. Negative growth rates were recorded by the sectors: "Financial Service Activitiesâ€ and Information and Communicationâ€.