Cyprus & World News

CYPRUS: Economy grew by 3.9% in Q3

16 December, 2017

The economy grew by 3.9% in the third quarter of 2017, the Statistical Service 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".