Construction output in Cyprus increased 12.8 percent year-on-year in the first quarter of 2019, easing from an upwardly revised 15.2 percent growth in the previous period, due to a plunge in civil engineering works (-21.6 percent vs 6.1 percent in Q4). On the other hand, building construction activity rose 20.1 percent, faster than a 17.1 percent advance in the previous period. Construction Output in Cyprus averaged 1.05 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 16.10 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 8.70 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.