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ECONOMY

Cypriot Economy Grows by 3.2% in Q1 2019

Cypriot Economy Grows by 3.2% in Q1 2019

The Cypriot economy grew by a rate of 3.2% in the first quarter of 2019, data released by the Cyprus Statistical Service on Friday, June 7.

GDP growth rate in real terms during the first quarter of 2019 is positive and estimated at 3.2% over the corresponding quarter of 2018, the Statistical Service says.

At the same time, based on seasonally and working day adjusted data, GDP growth rate in real terms is also estimated at 3.4%.

The increase of the GDP growth rate is mainly attributed to the sectors: "Construction", "Information and Communication" , "Professional, scientific and technical activities", "Administrative and support service activities" and "Arts, Entertainment and Recreation".

On the other hand, negative growth rate was recorded in the sector "Financial and Insurance Activities".

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