The GDP growth rate in real terms during the third quarter of 2024 is positive and it is estimated at 3,9% over the corresponding quarter of 2023. Based on seasonally and working day adjusted data, GDP growth rate in real terms is estimated at 3,8%.
HARMONIZED INDEX OF CONSUMER PRICES (HICP): OCTOBER 2024
Annual Rate of Change 1,6%
The HICP rose by 1,6% between October 2023 and October 2024, and decrease by 0,2% in the month between September 2024 and October 2024. For the period January – October 2024, the HICP rose by 2,2% compared to the corresponding period of the previous year.
The GDP growth rate in real terms during the third quarter of 2024 is positive and it is estimated at 3,9% over the corresponding quarter of 2023. Based on seasonally and working day adjusted data, GDP growth rate in real terms is estimated at 3,8%.
The positive GDP growth rate is mainly attributed to the sectors: “Hotels and Restaurants”, “Wholesale and Retail Trade, Repair of Motor Vehicles”, “Information and Communication” and “Construction”.
Based on provisional data, the average gross monthly earnings of employees during the second quarter of 2024, amounted to €2.398 compared to €2.262 during the second quarter of 2023, i.e. an increase of 6,0% is observed.
The average gross monthly earnings during the second quarter of 2024, seasonally adjusted, are estimated at €2.475 and compared to the first quarter of 2024 they are increased by 1,6%.
The average gross monthly earnings of male employees during the second quarter of 2024 are estimated at €2.606 and of female employees at €2.141. Compared to the second quarter of 2023, the average gross monthly earnings of male and female employees recorded an increase of 6,4% and 5,6% respectively.
The preliminary General Government fiscal results, which are prepared by the Statistical Service of Cyprus (CYSTAT) indicate a deficit of €39,0 mn for the period of April-June 2024, as compared to a deficit of €260,8 mn that was recorded during the period of April-June 2023.
