Cyprus & World News

Eurostat confirms growth decline in third quarter of 2013 in Cyprus

05 December, 2013

A second estimate for the third quarter of 2013 published Wednesday by Eurostat confirmed that growth rates in Cyprus have declined.

The estimate indicated that the GDP rose by 0.1% in the euro area.

Among Member States for which data are available for the third quarter of 2013,
Romania (+1.6%) and Latvia (+1.2%) recorded the highest growth compared with the previous quarter, followed by Hungary and the United Kingdom (both +0.8%).

On the other hand, Eurostat said that Cyprus (-0.8%), the Czech Republic (-0.5%), France and Italy (both -0.1%) registered decreases.

In the second quarter of 2013, growth rates in Cyprus were -1.8% while in the third quarter fell to -0.8%.

The Percentage change compared with the previous year indicated a decline of -5.7%.