World Economy

negative quarter

negative quarternegative quarter

Cyprus’s recession-hit economy contracted by 0.4% in the third quarter, matching the drop of the previous three months, official figures showed, AFP reported. It was the 13th successive negative quarter for the Mediterranean island’s battered economy, according to a flash estimate from the state statistical service, which also revised the second quarter drop to 0.4% from its initial estimate of 0.3%.