Construction output in Cyprus increased 16.6 percent year-on-year in the second quarter of 2019, following an upwardly revised 13.5 percent in the previous three-month period, boosted by building activity (24.8 percent vs 21.1 percent in Q1). Meanwhile, civil engineering works continued to contract (-23 percent vs -22.6 percent). Construction Output in Cyprus averaged 1.27 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.
Construction Output in Cyprus is expected to be 12.60 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 7.30 in 12 months time. In the long-term, the Cyprus Construction Output is projected to trend around 3.50 percent in 2020, according to our econometric models.