Cyprus Mail

Economy grows 3.8% in Q3, Cystat says

The Cypriot economy expanded an annual 3.8 per cent in the third quarter of 2017 after growing an upwards-revised 4 per cent the previous quarter, the statistical service said.

In July to September, the economy grew a seasonally adjusted 3.9 per cent, compared to the respective three-month period of 2016, Cystat said in a statement on Friday. The fresh third-quarter growth figures match the flash estimates announced on November 14.

Growth was mainly on an increase in economic activity in the areas of hospitality, retail and wholesale trade, construction, and manufacturing, Cystat said. The output of the financial and insurance sector, on the other hand, fell.


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