Construction output in Cyprus increased 9.8 percent year-on-year in the fourth quarter of 2019, easing from a 10.5 percent rise in the previous period. It was the lowest annual gain in construction activity since the second quarter of 2015. Building activity slowed (13.6 percent vs 14.7 percent) and civil engineering continued to decline (-10.6 percent vs -10.7 percent). Considering full 2019, construction output advanced 12.3 percent, the lowest since 2015 and compared to a 17.3 percent jump in 2018.
Construction Output in Cyprus averaged 1.51 percent from 2001 until 2019, 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. This page provides - Cyprus Construction Output- actual values, historical data, forecast, chart, statistics, economic calendar and news. Cyprus Construction Output - data, historical chart, forecasts and calendar of releases - was last updated on June of 2020.
Construction Output in Cyprus is expected to be -5.50 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 -4.00 in 12 months time. In the long-term, the Cyprus Construction Output is projected to trend around 5.00 percent in 2021 and 3.50 percent in 2022, according to our econometric models.