Cyprus Economy Maintains Growth Momentum

Cyprus Economy Maintains Growth Momentum

Cyprus' economy maintained its growth momentum in the second quarter, though the pace of expansion eased slightly, preliminary data from the statistical office showed Friday.

Gross domestic product grew a seasonally-and-working-day adjusted 0.9 percent year-on-year following 1 percent expansion in the first three months of the year.

The pace of growth slowed for the first time in three quarters.

On a year-on-year basis, GDP increased 3.5 percent in the second quarter after 3.7 percent growth in the previous three months.

On an unadjusted basis, GDP rose 3.6 percent in the three months to June, same as in the previous quarter.