articles | 09 December 2015

Cyprus growth accelerates

The Cyprus Statistical Service has confirmed that GDP grew in real terms by a seasonally adjusted 2.2% compared with the same period of the previous year in Q3 —its strongest pace of growth since 2010.

On a non-seasonally adjusted basis, real GDP grew by 2.3%, compared with 0.6% in the second quarter.

Both of these growth rates were the same as the flash estimate produced in November 2015.

There was a slight downward revision to the seasonally adjusted quarterly growth rate, however. The economy expanded by 0.4% over the previous quarter according to the latest statistics, compared with 0.5% in the flash estimate.

Cyprus is on course to reach a real GDP growth rate of more than 1% for the full year.

Source: InCyprus

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