CYPRUS: Q1 GDP up 0.9% q-o-q

Seasonally adjusted GDP rose in Cyprus by 0.9% on a quarterly basis in the first quarter of 2016 and by 2.7% on an annual basis, according to an estimate published by Eurostat, the statistical office of the European Union. In the same quarter, in the euro area GDP rose by 0.6% and by 0.5% in the EU28 compared with the previous quarter.

 
In the fourth quarter of 2015, GDP grew by 0.4% and 0.5% respectively. Compared with the same quarter of the previous year, seasonally adjusted GDP rose by 1.7% in the euro area and by 1.8% in the EU28 in the first quarter of 2016, after +1.7% and +2.0%, respectively, in the previous quarter.
Among member states for which data is available for the first quarter, Romania (+1.6%), Cyprus (+0.9%), Spain, Lithuania, Austria and Slovakia (all +0.8%), Bulgaria and Germany (both +0.7%) recorded the highest growth compared with the previous quarter. Decreases were registered in Hungary (-0.8%), Greece (-0.5%) and Poland (-0.1%), while GDP in Estonia remained stable.