Cyprus Construction Output Growth Improves In Q3

(RTTNews) - Construction sector output growth in Cyprus strengthened for a second straight quarter in the period of three months to September of 2024, preliminary data from the statistical office showed on Tuesday.

The Index of Production in Construction rose 6.5 percent year-on-year following a 4.8 percent increase in the second quarter. Output grew 4.5 percent in the first three months of the year.

The latest pace of growth was the strongest since the fourth quarter of 2023 when construction output surged 8.4 percent.

In the January to September period, the construction output index climbed 5.2 percent compared to the corresponding period of 2023.

The statistical office reported also showed that the output prices index in construction rose 3.7 percent year-on-year in the third quarter after a 5.3 percent increase in the previous three months.

Output prices rose 0.7 percent from the second quarter and were higher by 4.3 percent compared to a year ago in the January to September period.