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GDP growth rate estimated at 3% in Q3 2019

15/11/2019 12:00

GDP growth rate in real terms is estimated at 3% during the third quarter of 2019, according to the flash estimate by the Statistical Service of Cyprus.

 According to the flash estimate, the GDP growth rate in real terms during the third quarter of 2019 is positive and is estimated at 3.2% over the corresponding quarter of 2018. Based on seasonally and working day adjusted data, GDP growth rate in real terms is estimated at 3.0% and is the lowest since the first quarter of 2015.

The corresponding growth rate in the second quarter of 2019 was 3.1%.

The increase of the GDP growth rate is mainly attributed to the sectors: "Hotels and Restaurants", "Retail and Wholesale Trade", "Construction", "Manufacturing", "Professional, scientific and technical activities" and "Administrative and support service activities".
 
 Negative growth rate was recorded by the sector "Financial and Insurance Activities".