Ready-Mix Concrete Index report for October 2019 was published.
For the first time in the last two years, the Construction Sector continued to register growth of activity for two consecutive months.
Turkish Ready-Mixed Concrete Association published its Index data for October, which is one of the most important indicators in the construction sector.
According to the report, although the permanent improvement has not been achieved yet, construction activity continued for two consecutive months for the first time in two years.
The construction industry is recovering
Commenting on the report, Chairman of the European Ready-Mixed Concrete Association (ERMCO), Yavuz Işık said, “Despite confidence of players in the construction sector has increased, it remains below the minimum.
When we look at the construction sector in the last two years, we see the sector’s activity going on for two consecutive months.”
“Our experience has shown us that the acceleration and deceleration in the construction sector is closely linked to the general economy, and they have occurred before the general economy.
Construction Sector have utilized increasing foreigners’ interest in real estate investment and cut interest rates in Turkey efficiently.
Although the impacts have not yet been fully reflected, the recent interest rate cuts led to an increase in real estate sales by 15% in September.
However, increased optimism regarding global trade, reduced geopolitical risks in Turkey, interest rate cuts by the Turkish Central Bank, improvement of the credit rating agency expectations for Turkey, and continued to protect the value of the Turkish lira will meet the expectations of construction industry players.”
Edit By: Realty Group