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Cyprus News Agency: News in English, 10-02-12
CONTENTS
[01] EUROSTAT - CYPRUS
[01] EUROSTAT - CYPRUS
The Cypriot economy shrank by 0.3 per cent in the fourth quarter of
2009, according to flash estimates released by Eurostat. On an EU-wide
basis, the GDP increased by 0.1%, the second consecutive GDP growth.
However, the growth rate was smaller than that of the Q3, causing
concern regarding the consistency of the recovery of the European
economy.
On a quarterly basis, apart of Cyprus, the GDP of Greece decreased by
0.8%, of Italy by 0.2% and of Spain 0.1%. Compared to the fourth
quarter of 2008, Cyprus` GDP decreased by 2.7 per cent, whereas the
EU27 GDP decreased by 2.3% and the Euro area by 2.1%. On a yearly basis
no Euro area country showed GPD increase.
Cyprus joined the EU in May 2004 and the Euro area in January 2008.
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