Sea­son­ally ad­justed GDP up 0.7% in Q2

Financial Mirror (Cyprus) - - FRONT PAGE -

Sea­son­ally ad­justed GDP rose by 0.7% in the sec­ond quar­ter of 2016, com­pared to the pre­vi­ous quar­ter and by 2.7% com­pared to the same quar­ter of the pre­vi­ous year, ac­cord­ing to Euro­stat es­ti­mates.

Mean­while, GDP rose by 0.3% in the euro area (EA19) and by 0.4% in the EU28 dur­ing the sec­ond quar­ter of 2016, com­pared with the pre­vi­ous quar­ter. In the first quar­ter of 2016, GDP grew by 0.5% in both zones. Com­pared with the same quar­ter of the pre­vi­ous year, sea­son­ally ad­justed GDP rose by 1.6% in the euro area and by 1.8% in the EU28 in the sec­ond quar­ter of 2016, after +1.7% and +1.9% re­spec­tively in the pre­vi­ous quar­ter. Ac­cord­ing to Euro­stat, dur­ing the sec­ond quar­ter of 2016, house­hold fi­nal con­sump­tion ex­pen­di­ture rose by 0.2% in the euro area and by 0.4% in the EU28 (after +0.6% and +0.7% re­spec­tively in the pre­vi­ous quar­ter). Gross fixed cap­i­tal for­ma­tion was sta­ble in the euro area and in­creased by 0.2 % in the EU28 (after +0.4% and +0.1%). Ex­ports rose by 1.1% in both the euro area and in the EU28 (after 0.0% and +0.1%). Im­ports in­creased by 0.4% in the euro area and by 0.6% in the EU28.

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