News Local Economy grows by 3.6% in third quarter of 2018

Economy grows by 3.6% in third quarter of 2018

The GDP growth rate in real terms during the third quarter of 2018 is positive and is estimated at 3.6% over the corresponding quarter of 2017, the Statistical Service of Cyprus reported on Wednesday.

According to the flash estimate compiled by Cystat, based on seasonally and working day adjusted data, GDP growth rate in real terms is also estimated at 3.6%.

The increase of the GDP growth rate is mainly attributed to the sectors of the hotels and restaurants, retail and wholesale trade, construction, manufacturing, transport and storage, professional, scientific and technical activities and administrative and support service activities.

The sector of financial and insurance activities saw a negative growth rate.

(Cyprus News Agency)

Read more:

https://in-cyprus.com/news/local/eu-forecast-cypriot-economy-to-continue-growing-uk-the-smallest-growth-in-eu/

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