GDP grows by 3% in Q4 of 2016

?he GDP growth rate in real terms during the fourth quarter of 2016 is positive and estimated at +3.0% over the corresponding quarter of 2015, Cystat, the Statistical Service of Cyprus said on Friday.

Based on seasonally and working day adjusted data, GDP growth rate in real terms is estimated at +2.9%, it added.

The increase of the GDP growth rate is mainly attributed to the sectors of hotels and restaurants, professional, scientific and technical activities, retail and wholesale trade, manufacturing, and construction.

Negative growth rate was recorded in the sector of financial service activities.

Source: Cyprus News Agency