Cyprus escapes official recession in Q4.
A recession is recorded when there are two consecutive quarters of quarter on quarter decline.
For quarter on quarter figures, seasonally adjusted figures give the more accurate picture.
However, in non-seasonally adjusted terms the economy did decline compared with the previous quarter, by 0.5%, after a 0.5% Q/Q decline in Q3.
Moreover, compared with the same period of the previous year, the economy contracted by a seasonally adjusted 0.5%--the same contraction that was recorded in Q3 according to revised figures.
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|Publication:||Financial Mirror (Cyprus)|
|Date:||Feb 15, 2012|
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