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.

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Cyprus Construction Output

Actual Previous Highest Lowest Dates Unit Frequency
-23.10 -2.80 44.90 -27.70 2001 - 2020 percent Quarterly
NSA


Calendar GMT Actual Previous Consensus TEForecast
2020-01-10 10:00 AM Q3 10.5% 15.6% 16.1%
2020-04-14 09:20 AM Q4 9.8% 10.5% 12.6%
2020-07-07 09:30 AM Q1 -0.7% 10.2% 2%
2020-10-09 09:30 AM Q2 -23.1% -2.8% -26%


News Stream
Cyprus Construction Output Drops the Most in Over 5 Years
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).
2020-10-09
Cyprus Construction Output Drops for 1st Time in 4-1/2 Years
Construction output in Cyprus decreased 0.7 percent year-on-year in the first quarter of 2020, down from an upwardly revised 10.2 percent rise in the previous period. It was the first fall in construction activity since Q2 2015, as civil engineering works declined faster (-9.5 percent vs -1.3 percent in Q4) and building activity eased sharply (0.5 percent vs 12.3 percent).
2020-07-07
Cyprus Construction Output Growth Slows to 3-1/2-Year Low
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.
2020-04-14
Cyprus Construction Output Rises the Least since 2015
Construction output in Cyprus increased 10.5 percent year-on-year in the third quarter of 2019, following a downwardly revised 15.6 percent gain in the previous three-month period. It is the lowest annual gain in construction output since the second quarter of 2015. Building activity slowed (14.7 percent vs 23.6 percent) and civil engineering continued to decline (-10.7 percent vs -23.4 percent).
2020-01-10

Cyprus Construction Output
In Cyprus, construction output refers to the year over year change in the value of construction work done.