Industry in Cyprus
Cyprus - IndustryPreliminary GDP data revealed the economy lost some steam in Q3, with annual growth edging down to a still-solid 3.6% from 3.9% in the first half of the year. The third-quarter expansion was fueled by a vibrant hotels and restaurants industry, which benefited from the record number of tourist arrivals during the summer months, primarily from the UK and Russia. On the expenditure front, private consumption seems to have cooled somewhat in Q3, as suggested by weaker retail sales growth in July–August and households turning strongly pessimistic in the quarter, likely weighing on the headline figure.
Cyprus - Industry Data
|Industrial Production (annual variation in %)||-13.4||-0.1||3.4||8.7||9.7|
5 years of economic forecasts for more than 30 economic indicators.
Cyprus Industry Chart
Source: National Statistical Service and FocusEconomics calculations.
|Exchange Rate||1.14||0.65 %||Nov 29|
|Stock Market||65.5||-0.44 %||Nov 29|
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