Local
articles | 10 September 2018

Economy expands 3.9% in Q2 2018, Cystat says

The economy expanded in the second quarter of 2018 by 3.9% compared to the same period of 2017, the statistical service said recently.

Compared to the first quarter, economic output rose in April to June 0.8% in real terms. The seasonally adjusted growth rate in the second quarter was also 3.9%.

All figures announced today confirm an August 14 flash estimate.

The increased economic output resulted from a better performance of the hospitality sector, retail and wholesale trade, construction, manufacturing, professional, scientific and technical activities and administrative and support service activities, Cystat said. The impact of the financial and insurance service sector on growth was negative.

Source: Cyprus Mail

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