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• Create Date November 16, 2023
• Last Updated November 16, 2023

Estimated Civil Tender Values: October 2023

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), pulled the overall values for October lower. Kwazulu Natal recorded the highest civil tender values, but at a 2 percent y-y decrease, with Limpopo showing the strongest decline down 78 percent. Ony lower capacity provinces showed an increase including Free State (up 3 percent), Mpumalanga (up 68 percent) and North West (up 131 percent). Western Cape also showed a steep decline, down 38 percent y-y for the month, with Gauteng and Eastern Cape down on average 3.5 percent.

The annual rate of change, based on a 12-month moving average, in constant 2021 prices, slowed to an increase of 32 percent y-y by October 2023, from an increase of 45 percent y-y for the 12 months up to July 2023. By comparison this time last year, the index was still down 14 percent, showing a notable increase over the last 12 months.

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