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Data from FMP. Forecasts by Sigmanomics Forecast Engine.
ArmeniaArmenia Construction Output YoY climbed to 24.7% in April 2026
FMPMonthlyReleased May 2026
Armenia Construction Output YoY climbed to 24.7% in April 2026, released May 2026, up 0.7% from March's 24.0% reading. The print exceeded the 18.0% consensus by 6.7%. Construction Output YoY has now risen for 4 consecutive months. Over the past 3 months, Construction Output YoY averaged 21.5%, vs 18.85% in the prior 3-month window. Construction Output YoY is now the highest in 8 months.
Latest Release
24.7
Actual
18
Consensus
24
Previous
Median Absolute Error
±3.02 percentage points
across last 12 releases
Last Call
May 2026
Predicted: 19.65
Actual: 24.7
Error: -5.05
Sigmacast Σ-direction model: consensus + ½ × mean(surprise, trailing 90d).
CORRELATED SYMBOLS— markets that historically move with this indicator
| Symbol | Direction | Correlation | Asset Class | Signal Bias | Action |
|---|---|---|---|---|---|
| S&P 500 | ▼ Inverse | −0.51 | INDEX | Bearish S&P 500 | → View |
| USD/JPY | ▲ Direct | +0.25 | FOREX | Bullish USD | → View |
Correlation based on 12-month rolling window. Click any symbol to view its Sigmanomics forecast page.
THE RELEASE
Construction Output YoY (Armenia) was reported at 24.7% in May 2026. This beat the market consensus of 18% by 6.7%. The reading rose from the previous value of 24%. Trailing 12-month context per ETL data through May 2026. Over the past 12 months, the indicator has averaged 21.55%, ranging from 17.2% to 26.1% across 11 releases.
WHY IT MATTERS
The indicator has been trending upward over the last three releases. The trailing three releases averaged 21.73%, up from the prior three at 19.27%. Volatility over the past year (σ 2.39%) is comparable than the prior year (σ 2.31%). In May readings over the past 3 years, Construction Output YoY has averaged 20.13%.
THE MODEL'S TAKE
Historically, this indicator is negatively correlated with S&P 500 (Bearish S&P 500). Over the last 12 releases, the Sigmacast model's median absolute error is 3.02%.
WHAT TO WATCH NEXT
The next release is scheduled for June 25, 2026.
Auto-generated from current model state · Refreshes on each release · Last update May 2026.
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Construction Output YoY - AM
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About Construction Output YoY — Armenia
DEFINITION
Construction Output YoY (Year-over-Year) is a financial indicator that measures the change in the total value of construction projects completed in a given period compared to the same period in the previous year. It provides valuable insights into the growth or decline of the construction industry and can be used to assess the overall health of the economy. This indicator is closely monitored by investors, policymakers, and analysts to make informed decisions about the construction sector and its impact on the broader economy.
WHY THIS INDICATOR MATTERS
Housing data leads broader economic cycles by several months and is highly rate-sensitive, with knock-on effects to construction, materials, and consumer credit. The release is more useful as part of a longer-run signal than as a single-print catalyst. Released monthly.
WHAT CHANGED THIS MONTH
Latest reading (Apr 2026): actual 24.7 %, consensus 18 %. Prior reading (Mar 2026): 24 %. Before that (Feb 2026): 21.8 %.
WHAT'S NEXT
Sigmacast's 1-month forecast points to a higher reading versus the latest print, with the 3-month outlook reinforcing that direction. Both horizons are aligned bullish for this indicator, suggesting a consistent trend signal. Trend-driven dynamics are the primary tailwind in the current projection. This indicator correlates most strongly with S&P 500 (Bearish S&P 500, r=-0.51) — a useful reference for index-focused traders.