RTTNews - Tuesday, the Statistical Service of the Republic of Cyprus announced that the gross domestic product or GDP in real terms rose 1.2% year-over-year in the first quarter, slower than the 2.8% increase in the previous quarter. The first quarter figure was revised from 1.4% reported initially. A year ago, the GDP was up 4.3%.
On a seasonally and working day adjusted basis, the GDP increased 1.5% annually in the first quarter, revised from 1.6% estimated in the preceding report. In the fourth quarter, the GDP was up 2.7%.
Sequentially, the GDP remained unchanged in the first quarter, after rising 0.5% in the fourth quarter.
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