Malta’s economic growth at 4% during third quarter of 2014

Economic growth in Malta during the third quarter of 2014 was revised upwards to mark 4%, data released by the Eurostat’s office showed.

According to fresh data released by the European Union’s statistical office, seasonally adjusted GDP rose by 0.3% in the euro area and by 0.4% in the EU28 during the fourth quarter of 2014, compared with the previous quarter.

In the third quarter of 2014, GDP grew by 0.2% in the euro area and by 0.3% in the EU28.

Compared with the same quarter of the previous year, seasonally adjusted GDP rose by 0.9% in the euro area and by 1.3% in the EU28 in the fourth quarter of 2014, after +0.8% and +1.3% respectively in the previous quarter.

During the fourth quarter of 2014, GDP in the United States increased by 0.7% compared with the previous quarter (after +1.2% in the third quarter of 2014). Compared with the same quarter of the previous year, GDP grew by 2.5% (after +2.7% in the previous quarter).

Over the whole year 2014, GDP rose by 0.9% in the euro area and by 1.4% in the EU28.

In a reaction, the government said Malta enjoyed the highest rate of economic growth between July and September when compared to the rest of the EU.