Turkish Ready Mixed Concrete Association (THBB) has announced the “Ready-Mixed Concrete Index” May 2022 Report, which shows the current situation and expected developments in the construction and related manufacturing and service sectors, which are eagerly anticipated every month. After the housing support package, which was put into effect last month, the confidence of market players increased, but it is seen that this has not yet been reflected in expectations and activities.
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 constructions without being stocked in a short time after its production, is one of the most important indicators revealing the growth rate of the construction sector.
THBB has announced the May 2022 Report of the Ready Mixed Concrete Index, which is eagerly awaited every month. According to the report, the Activity, which was above the threshold value for the last 3 months, moved down again and fell below the threshold value in May. Moving at the border, the Confidence Index rose in May and was positioned above the threshold value. The Expectation Index, on the other hand, is still far from the desired level. The Combined Concrete Index showed a downward movement, albeit limited, due to the contraction in activity.
In May, compared to the same month of the previous year, a decline was observed in other indices excluding confidence. It seems that the activity could not continue its rise in April. It is noteworthy that the decline in the level of expectations is higher compared to the decrease in activity. After the housing support package, which was put into effect last month, the confidence of market players increased, but it is seen that this has not yet been reflected in expectations and activities.
“The importance of the Housing Finance Support announced in May is understood once again.”
Evaluating the results of the report, THBB Chairman of the Board Yavuz Işık said, “The latest number of Building Permits announced by TURKSTAT is important in terms of understanding the route of the construction industry in 2022. Considering the number of buildings, number of flats and surface area data, it is seen that the number of building permits decreased by more than 2022% in the first quarter of 20 compared to the same period of the previous year. There was no decrease in the number of Building Permits in the last 8 years, 2 retrospective quarters.” said.
Continuing his words by referring to the Housing Finance Support announced in May, Yavuz Işık said, “Data in the first quarter of 2022 show that Turkey returned to the 2020rd quarter of 3, when the economic effects of the pandemic began to fade. In this respect, it is understood once again how important the Housing Finance Support, announced in May, is. It is estimated that the said packages have not reached the level that will affect the market yet, but will be the determinant of the route of the construction industry in 2022. he said.
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