Outlook for construction sector 'may be improving'
There was an 8.8% year-on-year (y/y) rise in cement sales volume in the third quarter of last year along with 23.3% y/y increase in steel production indicating that the constructions sector might be improving, according to Biz Community Building and Construction news. This would be good news for the construction and cement sectors in South Africa.
The outlook for the construction industry may be improving after improved cement and steel sales.
The construction sector is a large employer and created 34‚000 jobs in the 12 months up to the third quarter of last year when total employment was just over a million people.
This 3.3% y/y increase in construction employment is ahead of the 2.4% y/y rise in real value added by the construction sector‚ which may indicate that Stats SA could revise its construction data higher.
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BY: HELMO PREUSS