Construction output in Cyprus plunged 23.1 percent over a year earlier in the second quarter of 2020, following a downwardly revised 2.8 percent drop in the previous period. It was the biggest decline in construction production since the last quarter of 2014, amid the coronavirus pandemic. Building activity fell further (25.3 percent compared to -2 percent in Q1), while civil engineering works decreased at a softer pace (-5.6 percent compared to -8.8 percent).
Construction Output in Cyprus averaged 1.45 percent from 2001 until 2020, 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 October 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 3.50 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.