, which shows the current situation and expected developments in the manufacturing and service sectors related to construction, which is expected every month. The Activity Index, which saw the highest value of the last 21 months in June, moved downwards in July, but was still above the threshold value and the year's average. Compared to the same month of the previous year, the other 3 indices, excluding the Expectation Index, revealed that the construction sector performed better.
Turkish Ready Mixed Concrete Association (THBB) reveals the current situation and expected developments in the construction sector and related manufacturing and service sectors in Turkey with the Ready Mixed Concrete Index announced every month. This Index, which is about ready mixed concrete, which is one of the most basic inputs of the construction sector and is also used in construction without being stocked in a short time after its production, is a leading indicator that reveals the growth rate of the construction sector.
According to the Ready Mixed Concrete Index 2023 July Report, although the Activity Index moved downwards in July after seeing the highest value of the last 21 months in June, it is still above the threshold value and the year's average. The Expectation Index could not maintain its position in May and June and fell below the threshold value. Confidence Index also seems to have displayed a downward movement compared to its value in June. Despite the decline in the indices, the last three months' performance of the construction sector is remarkable.
Except for the Expectation Index, the other 3 indices reveal that the construction sector performed better compared to the same month of the previous year. In particular, the increase in the Activity Index stands out. Confidence Index is also in a better position compared to July of last year.
Evaluating the results of the report, Yavuz Işık, Chairman of the Board of Directors of THBB, stated that the Activity Index, which saw its highest value in the last 21 months in June, is still above the threshold value and the year average despite the downward movement in July, “Despite the decline in the indices, the last three months' performance of the construction sector is remarkable. attractive.” said.
Making evaluations about the Turkish economy and the construction sector, THBB President Yavuz Işık said, “The recent normalization steps in monetary policy should not turn into a problem of access to finance for the real sector of our country and consumers. It is important that the Turkish economy enters a balanced growth path. It is possible to read the 66% decrease in mortgaged house sales in June compared to the same month of the previous year, as a sign that the ongoing positive picture in construction may be reversed in the future. In the second half of the year, in case the problem of access to finance escalates with the increase in construction costs, it may become inevitable that the construction sector, which is the locomotive sector of our country's economy, and the related sectors that provide input to it will show a low performance.” said.
