CYPRUS: Sixth consecutive quarter of growth

The economy marked growth for the sixth consecutive quarter, with the GDP growth rate in real terms during the third quarter of 2016 reaching 2.9% over the corresponding quarter of 2015, according to the statistical service Cystat.

 
Based on seasonally and working day adjusted data, GDP growth 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 in the "Financial Service Activities" and Information and Communication" sectors.