The mining production index slowed to the lowest level since 2012 (apart from Covid-19 period) as load shedding hits economy hard. November also marks the 10th consecutive month of negative output growth. Mining of building materials fell 3.3 percent, compared to a 22 percent decline in PGM’s.
Fewer liquidations were registered in the construction industry in November, but overall liquidations increased by more than 30 percent y-y for the period up to November 2022.
Treasury released the municipal capital expenditure budgets for the 3-year period from 2022/23 to 2024/25, with rather disappointing results. Other than the City of Cape Town, metro’s have not prioritised infrastructure expenditure over the next three years. During the 2021/22 period metro’s managed to spend 73 percent of their adjusted capital budgets.
Provincial departments increased expenditure on infrastructure in the 3rd quarter of 2022 to the highest level in at least 3 years, the construction labour force expanded by 3.9 percent y-y, while the estimated rand value of civil projects out to tender increased by over 70 percent y-y during the month of October. Approvals for building…
Investment in construction fell by 0.5 percent y-y in 2022Q3 (constant 2015 prices), to R58.6bn, coming of an already low base in 2021Q3. Residential investment increased by 3.9 percent y-y, but this was offset by a 0.6 percent contraction in non-residential investment and a 3.7 percent contraction in construction works. Click here for the GDP…
Provincial expenditure on buildings and other fixed assets declined by 2 percent y-y (real terms) in the first two quarters of the 2022/23 financial period (as at September 2022). Western Cape however, increased spending, up 38 percent y-y. The full dataset by province, including budgets and actual expenditure, from 2018/19 to 2022/23, is now available…
In this month’s survey the issue of contractors using average pricing in order to prepare tender documents are highlighted, particularly in rural areas. This monthly survey includes feedback on producers and suppliers of paint, cement, floor surfaces, scaffolding, formwork, ready-mix, ceilings, partitioning, floor and wall surfaces.
According to the 2022Q3 labour force survey, the construction labour force in terms of woman increased by 13.4 percent y-y to 171 000. This is the highest level since 2017Q2. Woman contributed 14 percent in Q3, above the long term (13) year average of 11 percent.
Liquidations in the construction sector increased by 33 percent y-y in October 2022 to 8, all of which were voluntary liquidations by CC’s. By comparison total liquidations in the country fell by 9 percent y-y.
Consumer inflation accelerated marginally to 7.6 percent in October (7.5 percent September). Main contributors were food, non-alcoholic beverages, housing and utilities and transport. Regulated administered prices eased to an annual increase of 15.2 percent (16.8 percent September). CPI (excluding regulated administered prices) increased by 6.6 percent. Inflation in provinces such as Eastern Cape, Northern Cape,…
