Calmco Ltd

Cyprus` economy recorded a growth rate of 2.2% in the 3rd quarter of 2015, according to a flash estimate by the Statistical Service of Cyprus.

This is the third consecutive quarter of growth after 14 quarters of recession since the third quarter of 2011.

GDP growth rate in real terms during the third quarter of 2015 is positive and estimated at 2.3% over the corresponding quarter of 2014. Based on seasonally and working day adjusted data, GDP growth rate in real terms is estimated at 2.2%.

Growth in the second quarter of 2015 was 0.5%, while in the first quarter reached 1.2%.

Positive growth rates were recorded by the sectors “Manufacturing”, “Retail and Wholesale Trade”, “Hotels and Restaurants”, “Transport”, “Professional, Scientific and Technical Activities”, “Administrative and Support Service Activities” as well as the “Financial Service Activities”.

Negative growth rates were recorded by the sectors “Recreational, Cultural and Sporting Activities”, “Activities of Households as Employers” and “Other Community, Social and Personal Service Activities”.