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…
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…
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…
The nominal rate of change in the estimated value of the South African construction pipeline slowed marginally to 12.4 percent y-y as at September 2023, compared to an increase of 14.8 percent y-y at the end of June 2023. Free State recorded the highest increase, of 74 percent y-y as at September 2023, with Mpumalanga…
Coming off a record low base, Gauteng offers some opportunities in the office space environment. Gauteng continues to dominate with the highest number of sqm approved for new office space development, and increased by 234 percent y-y over the last 12 months, compared to an overall increase of 129 percent. This is not enough to…
After an increase of 32 percent q-q in 2023Q3, estimated tender values were lower for the month of October, down 20 percent y-y compared to the same month in 2022. Despite a robust increase in tender values for bridge construction, lower values in road tenders (down 5 percent) and water project tenders (down 32 percent),…
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…
The North West recorded the highest growth rate for Q3, with the construction labour force expanding by 38.5 percent (or 19 000) to 68 000. This was also 16 percent higher compared to the same period in 2022, and around 10 percent above its 11-year average. Construction was the best performing sector in the North…
Manufacturing production utilisation of cement and aggregates declined by an average of 3 percent in the 1st three quarters of 2023, under performing against total manufacturing production utilisation. Insufficient demand remains the highest constraint although an increasing percentage of respondents referred to raw materials as a production constraint.
This represents an increase of 12.7 percent y-y (constant), with the largest increase in rand terms in Mpumalanga, up 50.8 percent y-y to R1.7bn. Kwazulu Natal provincial government spent close to R3bn, with a moderate below average increase of just 3.5 percent, while the Western Cape seems to be falling behind, as expenditure slumped 20…
The total number square metres approved by local government…
R35bn Transnet Push and R8.1bn Metro Funding Put Infrastructure…
