Cyprus GDP growth in 2Q 2015.
Cyprus` Statistical Service announced that according to a flash estimate the GDP growth rate in real terms during the second quarter of 2015 is positive and estimated at 1.2% in comparison to the 2nd quarter of 2014.
Based on seasonally and working day adjusted data, GDP growth rate in real terms is estimated at +0.9%.
The acceleration of the economy`s growth rate is a very encouraging development, Finance Minister Harris Georgiades has said. He stressed that "with confidence and seriousness, away from dogmatic denial, we continue on the path of reform, consolidation and change that Cyprus needs.
According to the estimate, positive growth rates were recorded in manufacturing, trade, hotels and restaurants, transport, communication, the professional, scientific and technical activities and administrative and support service activities as well as the financial service activities.
On the contrary, negative growth rates were recorded in construction, electricity, the arts, entertainment and other service activities as well as the activities of households as employers.
Source: Cyprus News Agency
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