Cyprus Mail
Cyprus

Economy expands 3.4% in Q1, Cystat says

Cyprus’s economy expanded 3.4 per cent in the first three months of the year compared to the respective period of 2016 and a seasonally adjusted 3.3 per cent, the statistical service said.

Compared to the fourth quarter of 2016, the economy grew 0.6 per cent in January to March, Cystat said in a statement on its website on Friday confirming a May 16 flash estimate.

Growth resulted from increased activity in the hospitality sector, professional, scientific and technical activities, retail and wholesale, industry and construction while the output of other financial intermediaries dropped, Cystat said.


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