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 and Kwazulu Natal also showing a stronger rate of increase. The annual growth rate moderated across other provinces, with Northern Cape slowing to an increase of 3.8 percent, Gauteng to 7.6 percent and Western Cape to 10.1 percent. Overall, the outlook remains positive, with just the North West Province showing a contraction in its pipeline, down 15.4 percent… click here to download the review
