World Economy

Cyprus GDP Grows 2.9%

Cyprus GDP Grows 2.9%Cyprus GDP Grows 2.9%

Cyprus economy marked growth for the sixth consecutive quarter, with the GDP growth rate in real terms during the third quarter of 2016 to reach 2.9% over the corresponding quarter of 2015, according to the Statistical Service of the Republic of Cyprus, NewsNow reported. 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”.


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