Cyprus economy continued growth for a second consecutive quarter

The Cyprus economy grew by an annual 5,3% in the third quarter of 2021 continuing on a growth trajectory for a second quarter this year.

According to the Flash Estimate compiled by the Statistical Service, the GDP growth rate in real terms during the third quarter of 2021 is positive and it is estimated at 5.2% over the corresponding quarter of 2020.

On the basis of seasonally and working day adjusted data, GDP growth rate in real terms is estimated at 5.3%, Cystat added.

According to the data, for the period of January – September of 2021 the Cypriot economy posted a growth rate of 5.5% of GDP compared with a downturn of 5.3% in the respective period of last year.

The positive GDP growth rate is mainly attributed to the sectors of Hotels and Restaurants, Manufacturing, Transport, Storage and Communication, Wholesale and Retail Trade, Repair of Motor Vehicles, Arts, Entertainment and Recreation and Other Service Activities, Cystat added.

Article by: www.stockwatch.com.cy

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