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ECONOMY

Eurostat: Cyprus GDP Up By 3.3% In 2017

Eurostat: Cyprus GDP Up By 3.3% In 2017

Cyprus recorded the 7th highest GDP growth rate for the 1st quarter of 2017 in the European Union, in annual basis, according to Eurostat. In Cyprus, GDP growth for Q1 2017 was 3.3% in annual and 0.6% in quarterly basis.

Seasonally adjusted GDP rose by 0.5% in both the euro area (EA19) and the EU28 during the first quarter of 2017, compared with the previous quarter, according to a flash estimate. In the fourth quarter of 2016, GDP grew by 0.5% and 0.6% respectively.

Compared with the same quarter of the previous year, seasonally adjusted GDP rose by 1.7% in the euro area and by 2.0% in the EU28 in the first quarter of 2017, after +1.8% and +1.9% respectively in the previous quarter.

During the first quarter of 2017, GDP in the United States increased by 0.2% compared with the previous quarter (after +0.5% in the fourth quarter of 2016). Compared with the same quarter of the previous year, GDP grew by 1.9% (after +2.0% in the previous quarter).

 

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