GDP growth rate during the fourth quarter of 2019 estimated at +3,2%

GDP growth rate in real terms during the fourth quarter of 2019 is positive and is estimated at +3,2% over the corresponding quarter of 2018, according to the Flash Estimate compiled by the Statistical Service.

Based on seasonally and working day adjusted data, GDP growth rate in real terms is estimated at +3,2%, the Statistical Service announced on Friday.

The increase of the GDP growth rate is mainly attributed to the sectors: “Hotels and Restaurants”, “Retail and Wholesale Trade”, “Construction”, “Manufacturing”, “Professional, scientific and technical activities” and “Administrative and support service activities”.

Negative growth rate was recorded by the sector “Financial and Insurance Activities”.

Source: Cyprus News Agency