GDP contracts 0.8 per cent in Q4 of 2013

Economic output contracted by 0.8 per cent in the last quarter of 2013 compared to the third quarter of last year, when the economy shrank by 0.9 per cent, the island’s statistics department said on Tuesday.

On a year on year basis, the economy contracted 5.0 percent, tapering from a 5.7 per cent drop in output in the third quarter. Both quarterly and yearly data was improved on flash data released by the statistics department on February 14. (Reuters)

 

The Cyprus Mail is the only English-language daily newspaper published in Cyprus. It was established in 1945 and today, with its popular and widely-read website, the Cyprus Mail is among the most trusted news sites in Cyprus. The newspaper is not affiliated with any political parties and has always striven to maintain its independence. Over the past 70-plus years, the Cyprus Mail, with a small dedicated team, has covered momentous events in Cyprus’ modern history, chronicling the last gasps of British colonial rule, Cyprus’ truncated independence, the coup and Turkish invasion, and the decades of negotiations to stitch the divided island back together, plus a myriad of scandals, murders, and human interests stories that capture the island and its -people. Observers describe it as politically conservative.