articles | 08 September 2016

Cyprus' economy grows 2.9% in Q2 2016

Cyprus’ economy expanded 2.9% year-on-year in Q2 and a seasonally adjusted 2.7%, the statistical service said citing revised figures which confirmed an August 12, 2016 flash estimate.

The Cypriot economy grew 0.7% in the second quarter compared to the previous three-month period, Cystat said in a statement on its website on Thursday.

In January to March, the economy grew an annual 2.6% and a quarterly 1%, according to Cystat.

Growth received a boost from hotels and restaurants, professional, scientific and technical activities, retail and wholesale trade, manufacturing, construction, and transport, Cystat said. Output from intermediary financial organisations, media and communication and the primary sector.

Source: Cyprus Mail

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