Cyprus GDP records growth of 3.4% in Q3

The Cypriot economy grew by 3.4% in the third quarter of this year on an annual basis, data released by the Cyprus Statistical Service show.

According to the official data the GDP growth rate in real terms during the third quarter of 2019 is estimated at 3.4% over the corresponding quarter of 2018.

Based on seasonally and working day adjusted data, GDP growth rate in real terms is estimated at 3.4%, the Statistical Service says.

The increase of the GDP growth rate is mainly attributed to the sectors: “Construction”, “Information and Communication” , “Professional, scientific and technical activities”, “Administrative and support service activities” and “Arts, Entertainment and Recreation”.

On the other hand, a negative growth rate was recorded by the sector “Financial and Insurance Activities”.

Source: Cyprus News Agency