Economy grew by 3.9% in Q3
- DATE: Dec 10, 2017
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- CATEGORY: MARKET TRENDS
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- AUTHOR: Elena Economou
The economy of Cyprus grew by 3.9% in the third quarter of 2017, the Statistical Service of Cyprus reported on Friday.
“Τhe GDP growth rate in real terms during the third quarter of 2017 is positive and estimated at 3.8% over the corresponding quarter of 2016” Cystat said.
“Based on seasonally and working day adjusted data, the GDP growth rate in real terms is estimated at 3.9%” it added.
The GDP growth rate is mainly attributed to the sectors of "hotels and restaurants", "retail and wholesale trade", "construction" and "manufacturing".
A negative growth rate was recorded in the sector of "financial and insurance activities".
Source: Stockwatch
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