Construction output in Armenia expanded 17.2% year-on-year in November 2025, slowing from a 20.1% surge in the previous month and marking the mildest growth since March. On a monthly basis, construction activity rose by 4.3%%, accelerating from a 1.3% increase in October. Considering the January to November period, total construction output climbed 20.1% compared with the same period last year.