Cyprus: Growth softens to near four-year low in Q2
August 14, 2019
Annual growth moderated to 3.0% in the second quarter, marking the slowest pace since Q3 2015 (Q1 2019: +3.2% year-on-year).
According to the preliminary release by the Statistical Service of Cyprus (CYSTAT), the second-quarter expansion was mainly supported by the following sectors: construction; information and communication; professional, scientific and technical activities; administrative and support service activities; and arts, entertainment and recreation.
In seasonally- and working-day-adjusted terms, the economy expanded 0.7% quarter-on-quarter in Q2, matching Q1’s outturn.
More detailed national accounts data will be released on 6 September.
Author: Javier Colato, Economist