Cypriot GDP shrank 2.2% in the second quarter of 2014, compared with the same period the previous year, the Statistical Service announced on Thursday. Cyprus` “GDP growth rate in real terms during the second quarter of 2014 is negative and estimated at -2,2% over the corresponding quarter of 2013.
Based on seasonally and working day adjusted data, GDP growth rate in real terms is estimated at -2,5%”, according to the Flash Estimate compiled by CYSTAT. It said that positive growth rates were recorded in tourism and trade, while the secondary sector of the economy (manufacturing, construction), as well as the sectors of banking, transport and other services recorded negative growth rates
