Economic - Cyprus Revises Q2 GDP Decline

(RTTNews) - Monday, the Statistical Service of the Republic of Cyprus announced that the gross domestic product or GDP decreased a seasonally and working day adjusted 0.4% sequentially in the second quarter, revised from 0.5% fall estimated initially. In the first quarter, the GDP was down 0.6%.

Year-on-year, the GDP dropped 0.7% in the second quarter, in contrast to the 0.8% growth in the previous quarter. The second quarter GDP was unrevised from the initial estimate.

On an unadjusted basis, the GDP declined 1.1% in the second quarter, revised from a 1% decline reported initially. The GDP was up 0.9% in the first quarter.