GDP growth rate at 0.8% in Q1 2020, CyStat estimates

GDP growth rate in Cyprus based on seasonally and working day adusted data in real terms in the first quarter of this year is estimated at 0.8%, the Cyprus Statistical Service says.

The GDP growth rate in real terms during the first quarter of 2020 is positive and it is estimated at 0.9% over the corresponding quarter of 2019, a press release published at its website reads.

"Based on seasonally and working day adjusted data, GDP growth rate in real terms is estimated at 0.8%," it adds.

The deceleration in the GDP growth rate is mainly attributed to the sectors: "Hotels and Restaurants", "Manufacturing", "Arts, Entertainment and Recreation", "Other Service Activities" and "Construction".

It recalls that the implementation of precautionary measures and relevant decrees to address the negative consequences of COVID-19 disease had a

(CNA)

*The full text of the news item is available in the paid version of the CNA web service. Subscription Form

*CNA reserves the copyright to the news stories it files, which is granted to subscribers for specific use only.

from Cyprus News Agency
Read The Rest:.cna.org.cy..