Construction output in Cyprus jumped 24.3 percent year-on-year in the third quarter of 2018, following an upwardly revised 13.3 percent rise in the previous three month period. It was the highest gain in construction activity since the second quarter of 2017, as the building construction activity advanced 30 percent (from 17.2 percent in Q2) and civil engineering projects increased 2.2 percent, rebounding from a 2.4 percent decrease in the second quarter. Construction Output in Cyprus averaged 0.72 percent from 2001 until 2018, reaching an all time high of 44.90 percent in the first quarter of 2017 and a record low of -27.70 percent in the fourth quarter of 2012.
Construction Output in Cyprus is expected to be 2.90 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Construction Output in Cyprus to stand at 2.60 in 12 months time. In the long-term, the Cyprus Construction Output is projected to trend around 2.70 percent in 2020, according to our econometric models.