Building construction cost index – 2Q14
According to the Turkish Statistical Institute (TurkStat), the building construction cost index increased by 1.7% in 2Q14 compared with the previous quarter, and by 11.4% y/y compared with 2Q13. Furthermore, the figure represented a 9.1% rise compared with the four-quarter average.
In 2Q14, the labour index increased by 3% and the material index improved by 1.3% compared with the previous quarter. Annual changes were a 9.8% increase in the labour index and an 11.9% increase in the material index.
Seasonally adjusted construction confidence index – July 2014
The confidence index, which was 79.9 for construction in the previous month, totalled 78.5 in July 2014. This decrease in the construction confidence index stemmed from the falling number of managers evaluating current overall order books as above the seasonal normal. The number of managers expecting an increase in total employment over the next three months increased.
In the construction sector, while the current overall order books index decreased by 7.1%, total employment expectation index increased by 2.1% compared to the previous month.
Adapted from press release by Rosalie Starling