Cyprus: Growth gathers pace in Q3
November 14, 2019
Annual growth picked up to 3.2% in the third quarter from 3.0% in the previous quarter, which had marked the slowest expansion since Q1 2015.
According to the preliminary release by the Statistical Service of Cyprus (CYSTAT), the third-quarter upturn was mainly supported by the following sectors: hotels and restaurants; retail and wholesale trade; construction; manufacturing; professional, scientific and technical activities; and administrative and support service activities.
In seasonally- and working-day-adjusted terms, the economy grew 0.7% quarter-on-quarter in Q3, matching Q2’s outturn.
More detailed national accounts data will be released on 9 December.
Author: Javier Colato, Economist