Cyprus GDP down by 1.3% during first quarter of 2013

GDP fell in Cyprus by 1.3% during the first quarter of 2013, compared with the previous quarter, according to second estimates published by Eurostat, the statistical office of the European Union.

GDP fell by 0.2% in the euro area and by 0.1% in the EU27 during the first quarter of 2013, compared with the previous quarter. In the fourth quarter of 2012, growth rates were -0.6% and -0.5% respectively.

Compared with the same quarter of the previous year, GDP fell by 1.1% in the euro area and by 0.7% in the EU27 in the first quarter of 2013, after -1.0% and -0.7% respectively in the previous quarter.

Source: Financial Mirror