Cyprus Mail

GDP contracts 0.8 per cent in Q4 of 2013

Economic output contracted by 0.8 per cent in the last quarter of 2013 compared to the third quarter of last year, when the economy shrank by 0.9 per cent, the island’s statistics department said on Tuesday.

On a year on year basis, the economy contracted 5.0 percent, tapering from a 5.7 per cent drop in output in the third quarter. Both quarterly and yearly data was improved on flash data released by the statistics department on February 14. (Reuters)


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