Construction output in Cyprus increased 13.1 percent year-on-year in the second quarter of 2018, easing from an upwardly revised 19.4 percent growth in the previous period. It was the weakest gain in construction output since the first quarter of 2016. The building construction activity slowed to 17.1 percent from a 25.4 percent rise in the first quarter and civil engineering projects went down 2.9 percent, after a 2.5 percent drop in the previous three month period. Construction Output in Cyprus averaged 0.38 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 3.20 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 15.57 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.