Depressed housing market continues to demand building demand

In January 2024, building approvals nationally declined for the 7th straight month, with a 13% decrease year-on-year. Free State saw a significant increase, while other regions like Limpopo and Kwazulu Natal showed modest improvements. However, overall national trends indicate a challenging start to the year, with lower approval rates compared to the previous year. Gauteng…

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Mining Production of Building Materials January 2024

Mining production of building materials experienced a difficult 2023, with production down 6 percent in 2023. The rate of decline accelerated during the 2nd half of 2023, and this momentum was carried through to January 2024, with production down 10.6 percent y-y (not seasonally adjusted). By comparison mining production (excluding gold), although also performing poorly,…

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Construction Monitor February 2024

In February 2024, South Africa witnessed pivotal events such as the State of the Nation Address (SONA) and the National Budget Speech, shedding light on the nation’s economic challenges. The SONA, usually a platform for showcasing achievements, appeared more geared towards election campaigning this time. Conversely, the Budget Speech delved deep into governmental finances, revealing…

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GFCF 2023Q4 may underestimate performance in local construction sector

The Gross Fixed Capital Formation (GFCF) estimates released by Stats SA for the fourth quarter of 2023 indicate ongoing pressure on the construction industry, particularly in residential and civil construction works. Residential investment has seen a significant decline, while the non-residential market has shown some growth, likely fueled by renovations and alterations related to renewable…

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Construction Monitor November 2023

In this month’s monitor we include a “Key Construction Indicator Summary” for the Month, Quarter and Year to Date. We look at the performance of JSE companies involved in the construction sector, the extent of liquidations in the industry, performance of the retail and wholesale trade sales, construction material price inflation, and our usual updates…

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CRMS November 2023

The listed sector involved in the local construction sector experienced a better month in November 2023 with only 27 percent of the companies included in the compilation of the index having reported lower market capitalisation values compared to October. The Suppliers sub-index posted the best performance thanks to PPC, with the composite index for Residential…

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Construction Monitor October 2023

In this month’s monitor we look at the manufacturing production capacity of cement and aggregates that has underperformed against the overall manufacturing production capacity across all sectors, with a decline of 2 percent y-y in Q3. Mining production of building materials was also lower after a robust increase in Q2. Trends in the retail and…

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