News Local Cyprus' GDP grows by 3.7% in Q3

Cyprus’ GDP grows by 3.7% in Q3

GDP growth rate in real terms, during the third quarter of 2018, is estimated at 3.7% over the corresponding quarter of 2017, according to data released on Friday by the Statistical Service of Cyprus.

Based on seasonally and working day adjusted data, GDP growth rate in real terms is also estimated at 3.7%.

The increase of the GDP growth rate is mainly attributed to the sectors: “Hotels and Restaurants”, “Retail and Wholesale Trade”, “Construction”, “Manufacturing”, “Transport and Storage”, “Professional, scientific and technical activities” and “Administrative and support service activities”.

Negative growth rate was recorded by the sector “Financial and Insurance Activities”.

(Cyprus News Agency)

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