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Financial News: Cyprus GDP Growth Rises In Q4

Cyprus GDP Growth Rises In Q4

03/03/2020 - 06:41:00 (RTTNews)

(RTTNews) - Cyprus economic growth rose in the fourth quarter, data from the Statistical Service showed on Tuesday.

Gross domestic product rose a seasonally and working-day adjusted 0.8 percent quarter-on-quarter in the fourth quarter, following a 0.5 percent increase in the preceding quarter.

The pace of growth was the fastest since the first quarter when the economy expanded 1.4 percent.

In the same quarter last year, the economy grew was 1.0 percent.

On an annual basis, GDP grew 3.2 percent in the fourth quarter, after a 3.3 percent rise in the prior quarter.

Without adjustments, GDP rose 3.2 percent annually in the fourth quarter following a 3.5 percent increase in the previous month.

In 2019, the economy expanded 3.2 percent versus 4.1 percent growth in 2018.

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