Q3 seasonally adjusted GDP up 0.7% q-o-q, +2.8% y-o-y

Seasonally adjusted GDP rose by 0.7% and 2.8% in Cyprus in quarterly and annual basis, during the third quarter of 2016. Meanwhile, the Euroarea GDP rose by 0.3% and by 0.4% in the EU28 during the third quarter of 2016, compared with the previous quarter, according to an estimate published by Eurostat.

In the second quarter of 2016, GDP also grew by 0.3% and 0.4% respectively. Compared with the same quarter of the previous year, seasonally adjusted GDP rose by 1.7% in the euro area and by 1.9% in the EU28 in the third quarter of 2016, after also +1.7% and +1.9%, respectively, in the previous quarter.

Among EU member states for which data are available for the third quarter of 2016, Croatia (+1.7%), Slovenia (+1.0%), Greece and Portugal (both +0.8%) recorded the highest growth compared with the previous quarter, while Lithuania recorded the lowest growth (+0.1%).

In the third quarter of 2016, household final consumption expenditure rose by 0.3% in the euro area and by 0.4% in the EU28 (after +0.2% and +0.4% respectively in the previous quarter). Gross fixed capital formation increased by 0.2% in both zones (after +1.2% and +1.1%). Exports rose by 0.1% in both the euro area and the EU28 (after +1.2% and +1.0%). Imports increased by 0.2% in the euro area, while they decreased by 0.1% in the EU28 (after +1.2% and +1.3%).