Construction output in Cyprus increased 14.2 percent year-on-year in the fourth quarter of 2018, easing from an upwardly revised 25.8 percent gain in the previous period. Building construction rose 14.2 percent, slowing from a 31.9 percent increase in the third quarter and civil engineering went up 13.9 percent (vs 2.2 percent in Q3). Considering full 2018, construction output advanced 17 percent from a year earlier. Construction Output in Cyprus averaged 0.85 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 2.80 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.