Cyprus GDP records increase for fourth consecutive quarter

By Nicos Bellos (CNA)
Cyprus GDP has recorded an increase by 2.2% in the fourth quarter of 2010. According to second estimates released by Eurostat, the statistical office of the European Union, Cyprus’ GDP increased by 2.2% in the fourth quarter of 2010 compared to the corresponded period of 2009.
This is the fourth consecutive quarter during which the Cyprus GDP shows an increase.
GDP increased by 0.3% in the euro area (EA16) and by 0.2% in the EU27 during the fourth quarter of 2010, compared with the previous quarter. In the third quarter of 2010, growth rates were +0.3% in the euro area and +0.5% in the EU27.
Compared with the fourth quarter of 2009, seasonally adjusted GDP increased by 2.0% in the euro area and by 2.1% in the EU27, after +1.9% and +2.2% respectively.
Over the whole year 2010, GDP increased by 1.7% in the euro area and by 1.8% in the EU27, compared with -4.1% and -4.2% respectively in 2009.