Cyprus Mail

Third quarter GDP rises 0.9 per cent

GDP rose across the euro area

Seasonally adjusted GDP rose by 0.6 per cent in both the euro area (EA19) and the EU28 during the third quarter of 2017, and by 0.9 per cent in Cyprus compared with the previous quarter, according to an estimate published by Eurostat on Thursday.
In the second quarter of 2017, GDP grew by 0.7 per cent in the EA19 and the EU28 and by 1.0 per cent in Cyprus.
Compared with the same quarter of the previous year, seasonally adjusted GDP rose by 2.6 per cent in both the euro area and the EU28 in the third quarter of 2017, and by 3.9 per cent in Cyprus.
Meanwhile data released on Thursday by Cyprus’ Statistical Service (Cystat) showed that inflation increased by an annual 0.3 per cent in November, mainly due to price increases in housing, water, electricity, gas and other fuels.
November is the second consecutive month with a positive inflation rate.
The Consumer Price Index in November 2017 registered at 99.44 units compared to 99.34 units in the previous month.
In the January – November 2017 period, the CPI marked an increase of 0.6 per cent compared with to the same period in 2016.
Transport and Education also helped in maintaining inflation on a positive track.

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