Cypriot economy shows growth 0.4% in Q4 2015

Quarterly real GDP growth slowed to 0.4% in the fourth quarter of 2015 from 0.5% in the third, according to the flash estimate from the Statistical service Cystat.

However, on a year-on-year basis growth accelerated to a seasonable 2.7% in the fourth quarter from 2.3% in the third.

On a non-seasonally adjusted basis the real GDP growth rate reached 2.4% in the fourth quarter, up from 2.3% in the third.

The increase of the GDP growth rates is mainly attributed to the sectors hotels and restaurants, professional, scientific and technical activities, retail and wholesale trade, manufacturing, construction, transport as well as the financial service activities, Cystat said.

Source: InCyprus