Cyprus economy shrinks 5.7 pct in Q3 2013

Cyprus’s recession-hit eurozone economy contracted by 5.7 percent in the third quarter of 2013, compared to a year earlier, an official flash estimate said on Thursday.

The dip marks the eighth successive quarter in which the Mediterranean island’s economy has been in negative territory – but the contraction is slightly lower than the annual 5.8 percent decline registered in May to June.