Retail trade sales of hardware, paint and glass fell by 6 percent m-m (constant prices) in March and was down by 12.4 percent on a year on year basis. Overall it was a weaker first quarter down 10 percent y-y to R22.1bn. Trade sales in the construction market underperformed the overall market, as total retail…
Consumer inflation was unchanged at 5.9 percent for April 2022, remaining near the Reserve Bank’s upper target range of 6 percent. The repo rate was increased by 25 basis points at the last three meetings and the pace of increase is expected to gain momentum as inflationary risks escalate.
Cement imports declined by 25 percent m-m during the month of March 2022 to just over 51,000 tons, mainly from Vietnam. This was also lower by 38.7 percent y-y compared to the same period in 2021. Overall imports were weaker for the 1st quarter down 32.7 percent.
The annual increase in the composite construction material price index slowed to 12.5 percent y-y in March 2022 from 13.2 percent in February. Several materials have shown an above average inflationary increase, amongst others, paint, pipes, tubes and fittings, ceiling boards, bituminous mixtures and reinforcing steel.
The CRMS Index fell by 4.8 percent m-m in April 2022 to 77.5, with all of the sub markets reporting a weaker month. The contractor’s index fell by 8.1 percent, construction material suppliers by 5.8 percent, construction retailers by 1 percent and property funds by 5.3 percent. The market cap values of only a few…
The real value of building plans approved for private sector construction increased by 2 percent m-m in February 2022, but was significantly lower (down 28 percent y-y) compared to the same month in 2021. Approvals were lower across all market segments, with 3 out of the 4 higher capacity provinces recording a significant decline.
Consumer inflation accelerated to 5.9 percent y-y in March 2022 from 5.7 percent in February. Regulated administered prices jumped by 18.3 percent, from 16.7 percent, adding significant pressure to consumer inflation.
Wholesale trade sales of construction and building materials increased by 25 percent m-m (current prices) in February, after a slow December and January. Sales were also up by 11 percent y-y compared to the same month in 2021. In real terms, adjusted for inflation, sales however remain lower by 7 percent y-y for the first…
Retail trade sales of hardware, paint and glass increased by 4 percent m-m (constant prices) in February, but remains weaker compared to 2021. Sales in the first two months of 2022 were down 9 percent y-y compared to the same period last year. Total retail trade sales ended flat during the same period.
Since our last review, the outlook for global economic growth has weakened and this together with the Russian-Ukraine invasion will have serious consequences for emerging markets and the South African economy. Poor delivery within SOE’s continued with no improvement since our last review. However, considering the robust increase in the estimated value of civil tenders…
The total number square metres approved by local government…
R35bn Transnet Push and R8.1bn Metro Funding Put Infrastructure…
