Cyprus GDP Q2 2019

Cyprus

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.

FocusEconomics panelists expect GDP to increase -% in 2019, which is from last month’s forecast, and -% in 2020.


Author:, Economist

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Cyprus GDP Q2 2019

Note: Year-on year changes of GDP in %.
Source: Statistical Service of Cyprus (CYSTAT) and FocusEconomics Consensus Forecast.


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