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GDP growth at 2.1% in Q2 2023

15:11 - 16 August 2023

Economy Reporter

GDP growth rate in real terms during the second quarter of 2023 is positive and it is estimated at 2.1% over the corresponding quarter of 2022, according to a flash estimate by CySTAT.

In particular, based on seasonally and working day adjusted data, GDP growth rate in real terms is estimated at 2.3%.

The positive GDP growth rate is mainly attributed to the sectors: "Hotels and Restaurants", "Transport and Storage", "Information and Communication", "Wholesale and Retail Trade, Repair of Motor Vehicles", "Arts, Entertainment and Recreation" and "Other Service Activities".

When compared to the previous quarter (seasonally and working day adjusted data) GDP growth was 0.4% slower.

(Source: CNA)

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