articles | 16 February 2017

Cyprus' economy expands 3% in Q4 2016

Cyprus’ economy expanded an annual 3% in Q4 2016 after growing 2.9% in the third quarter, the statistical service said citing a preliminary flash estimation.

In the fourth quarter last year, the economy grew a seasonally adjusted 2.8% compared to the respective period of 2015, Cystat said in a statement on its website on Tuesday.

Economic output rose 0.5% in the fourth quarter compared to July to September, Cystat said.

The stronger growth resulted from increased activity in hotels and restaurants, retail and wholesale trade, manufacturing and construction offsetting the negative impact of intermediary financial organisations, Cystat said.

Source: Cyprus Mail

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