Cypriot economy grows 2.3% in Q3 2015

Cyprus’ economy grew an annual 2.3% and a seasonally adjusted 2.2% in the third quarter 2015, the statistical service said recently.

From July to September, the economy grew 0.5% quarter-on-quarter, after growing at the same rate in the previous three months, Cystat said in a statement on its website.

In the second quarter, the economy grew an annual 1.2%. It is Cyprus’ third consecutive growth quarter after its economy had contracted for 14 consecutive quarters.

Manufacturing, retail and wholesale, hotels and restaurants, transports, professional, scientific and technical activities, support service activities as well as financial service activities, saw their output grow in the third quarter, Cystat said. “Νegative growth rates were recorded by the sectors recreational, cultural and sporting activities, activities of households as employers and other community, social and personal service activities,” it added.

Source: Cyprus Mail