GDP contracts 0.8% in Q4 of 2013

Economic output contracted by 0.8% in the last quarter of 2013 compared to the third quarter of last year, when the economy shrank by 0.9%.

According to the latest figures from the Statistical Services, on a year on year basis, the economy contracted 5.0%, tapering from a 5.7% 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.

Source: Cyprus Mail