GDP Growth Rate, 3rd Quarter 2016 (flash estimate)

According to the Flash Estimate compiled by the Statistical Service, the GDP growth rate in real terms during the third quarter of 2016 is positive and is estimated at +2.9% over the corresponding quarter of 2015. Based on seasonally and working day adjusted data, GDP growth rate in real terms is estimated at +2.8%.

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 rate was recorded by the sector “Financial Service Activities”.

Source: Republic of Cyprus, Ministry of Finance, Statistical Service