Construction material production increased by 8.4 percent in November!

Turkey's construction material industry production increased by 8.4 percent in November 2023 compared to the same month of the previous year.

According to the Monthly Sector Report published by the Association of Turkish Construction Material Producers (Türkiye İMSAD), growth in the construction sector continued in November. While an 8.4 percent growth was recorded on an annual basis in November 2023, an increase was observed in 14 out of 22 sub-sectors in production, while a decline was seen in 8.

In the January-November period, there was a 6.1 percent increase in construction material industry production. During this period, the highest production increase occurred in structural metal products and parts with 33.4 percent. Metal door and window production increased by 32.7 percent. An increase of 21.9 percent was observed in wooden construction material production, and 15.4 percent in ready-mixed concrete.

However, during the same period, there was a 12.7 percent decline in the production of construction glass, followed by a 12.1 percent drop in ceramic coating materials.

According to the report, the current level of construction work showed a significant increase at the beginning of the new year. In January, the current business level reached its highest level in recent years with an 8.2-point increase compared to the previous month. The effect of seasonality on this increase remained limited.

Although the new business orders index closed 2023 with a decline, it recorded a significant increase in January 2024. In this context, the new orders index rose by 5.2 points compared to the previous month. The construction sector has begun to observe developments regarding new supply/demand balances and cost/price levels that will emerge in the sector under the influence of new economic policies.

The real sector confidence index rose above 100 points again last month after finishing last year at its lowest level.

News Source: AA