Turkiye’s construction material industrial production increased by 8.4% in November 2023 compared to the same month of the previous year.
January 2024 results of the Turkish Construction Material Manufacturers Association (Turkiye IMSAD) Monthly Sector Report have been announced.
According to the report, growth in the construction sector continued in November. While there was an annual growth of 8.4% in November 2023, production increased in 14 of 22 sub-sectors and decreased in 8.
The increase was 6.1% in the January-November period
Construction material industrial production grew by 6.1% on an annual basis in the January-October 2023 period. During this period, the highest production increase was in metal structures and building parts, with 33.4%. Metal doors and windows production increased by 32.7%.
The production increase was 21.9% in wooden construction material production and 15.4% in ready-mixed concrete.
In the said period, the highest decline in production was experienced in construction glass with 12.7%, followed by ceramic coating materials with 12.1%.
The level of available jobs has risen to the highest level in recent years
According to the report, the current level of construction work increased significantly at the beginning of the new year.
In this context, the level of available jobs in January experienced a significant increase of 8.2 points compared to the previous month. During this period, the impact of seasonality on new business was very limited. Thus, in the first month of the new year, the current business level reached its highest level in recent years.
Newly received orders increased by 5.2 points
While new work orders received closed 2023 in a downward trend, there was a significant increase in the first month of the new year.
In this context, the newly received orders index increased by 5.2 points in January 2024 compared to the previous month. The construction industry began to see new cost/price levels with the new supply/demand balances that will occur in the sector as a result of new economic policies.
The real sector confidence index, which closed last year at its lowest level, rose above 100 points again last month.
Source: AA / Prepared by Irem Yildiz