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GDP shrank in real terms by 2.2% during the second quarter of this year compared with the same quarter of the previous year, data released by the Statistical Service showed.
According to the data, GDP stood at EUR 3,494 mln in the 2nd quarter, compared to EUR 3,571.2 mln in the same quarter of 2013.
Based on seasonally and working day adjusted data, it is estimated that the GDP shrank by 2.5% compared to the same period of 2013, and 0.3% compared to the previous quarter. Positive growth rates were recorded in tourism and trade which reached output of EUR 793.5 mln compared to EUR 769.4 mln in the same quarter of 2013, recording an increase of 0.03%.
¡egative growth rates were recorded in the manufacturing which reached EUR 259.9 mln compared to EUR 271.4 mln (drop of 0.04%). Likewise, construction which stood at the end of the second quarter at EUR 145.7 mln compared to EUR 177.3 mln in the same period of last year, shrank by 10.82%.