According to “Ready-Mixed Concrete Index” August 2022 Report released by Turkish Ready Mixed Concrete Association (THBB) it is seen that construction has still not been able to determine its direction since the beginning of the year although there was an upward movement in the activities in August.
Turkish Ready Mixed Concrete Association (THBB) points out the current status of and expected developments in construction sector and related production and service sectors in Turkey with Ready Mixed Concrete Index it releases every month. Related to ready-mixed concrete which is one of the most basic inputs of the construction sector and is used in construction within a short period of time after its production without being stocked, the index is one of the most important indicators revealing the growth rate of the construction sector.
THBB released the August 2022 Report of the Ready Mixed Concrete Index, which is eagerly awaited every month. The report indicates that the course of the construction sector could not be determined since the beginning of the year despite the upward movement in activity in August. Expectation and Confidence Indices in August remained below the threshold. While the confidence index made an upward move in line with July, the Expectations index fell to the lowest levels of the year. The Combined Concrete Index moved upwards due to the rise in activity, yet still remained below the threshold despite the decline in 2 indices.
All 4 indices seem to be in a decline on a year on year basis. Particularly the decline in expectations index is higher.
Making evaluations on the results of the report, Chairperson of the Board of Directors of THBB, Yavuz Işık said, “The fact that expectations and confidence indices were low on year on year basis means that we are still far from the expected revival in the construction sector both currently and in the upcoming period.”
Pointing out the fact that despite its increase, the Activity Index is in a decline compared to the previous year, Mr. Işık said, “This shows us that the sector continues to shrink despite the measures taken by the government for the construction sector. In the Turkish economy which achieved a growth by 7.6% in the second quarter of the current year, the one which shrank the most among others was construction sector with a rate of 10.9%. Being one of the 2 sectors with negative growth together with the agricultural sector, the construction sector is still in the course of regression.”
