2023 kicked off with a continuance of load shedding that escalated to an average of stage 4 (from an average of stage 2 in 2022), SARB’s increase of the repo rate to 7.25 percent, lower GDP growth outlook and talks of declaring a national state of disaster. According to Reserve Bank estimates, load shedding is…
The report highlights three key factors that we consider could have a positive influence on the construction industry in 2023. The full report is now available for download to clients.
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.
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…
Limpopo, Western Cape and Kwazulu Natal took the lead in the estimated value of civil tenders released during the month of October 2022. Tender values showed a notable increase in October, exceeding R13bn, with a 73 percent y-y increase.
Retail trade sales in hardware, paint and glass fell for the 14th consecutive month in August 2022, down 9.4 percent y-y in real terms, against an overall increase of 2 percent in total retail trade sales.
Our monthly review on current trends in the construction industry is now available, including our three year macro economic and construction forecast. The review includes an update of the construction pipeline at a provincial level, a look at public sector capital expenditure on construction works, local government expenditure on infrastructure and other key indicators. Please…
Liquidations in the construction sector increased by 180 percent y-y during the month of August, mainly related to voluntary liquidations of CC’s. Overall liquidations are up 76 percent y-y during the first two months (July and August) of the 3rd quarter, while, by comparison, overall liquidations in the country by 26 percent during the same…
The Estimated Tender Value index recorded its first positive growth in 6 months, up 2.9 percent m-m in August to 150.5, following an average month on month decline of 3.4 percent between February 2022 and July 2022. In real terms civil tender values are up a modest 1 percent y-y in the first eight months…
Mining production of building materials increased by 2 percent m-m in July 2022, representing a modest 1 percent increase compared to the same period in 2021. The nominal rand value of building material sales increased by a below inflationary increase of 4 percent y-y in the first seven months of 2022 to just over R7bn.
Private sector building approvals weakened during May 2026, with…
What is the Provincial Construction Pipeline? The Provincial Construction…
