Economy expands 4 per cent in fourth quarter

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By Stelios Orphanides

Cyprus’s economy expanded 4 per cent in the fourth quarter of 2017 compared to the respective three-month period last year, the statistical service Cystat said citing a flash estimate.

The fourth quarter economic output expanded a seasonally adjusted 3.9 per cent, Cystat said in a statement on its website. Compared to July to September, the economy grew in October to December 1.1 per cent.

Economic activity increased mainly in the areas of hotels and restaurants, retail and wholesale trade, construction and manufacturing, Cystat said.

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About Author

Stelios Orphanides is a journalist at CyprusBusinessMail.com. To contact Stelios Orphanides: [email protected]

  • JS Gost

    Economic growth in unsustainable and external area, when will the next crisis take place ?

    • Kevin Ingham

      We have something of a dual economy working in Cyprus-

      On the one hand we have a stagnant sector that has not recovered from the last crash (leaving lots of unsold houses, personal debt, NPL’s and property / wage deflation) and a “thriving” sector based on doing the same things that caused the problems last time (short -termism, dubious investment sources and bandwagon economics that don’t create sustainable growth, but makes a few individuals a lot of money)

      Very little has changed in Cyprus since the last crash, and if things don’t change then history has a habit of repeating itself.

  • AnalogMind

    Very good news.