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Turkey Construction Industry Report 2020/Q2

Negative effects of Covid-19 that started in the first quarter, continues to increase in the second quarter. Although the number of cases, which decreased especially at the end of the quarter, economic activities have resumed, they have not yet returned to the pre-pandemic period. The pandemic measures and quarantine process taken by the governments to slow the spread of the epidemic were reasons of the economic decline. After some restrictions began to be released, recovery process started for the construction sector.

To summarize the prominent data for the second quarter of 2020;

  • In the second quarter of 2020, the Gross Domestic Product declined by 9.9%.
  • Crude steel production in the second quarter of 2020 reached 2.8 million tons in June 2020, with an increase of 3.8% compared to the same month of the previous year.
  • Seasonally and calendar adjusted GDP chained volume index decreased by 10.0% in the second quarter of the year compared to the same quarter of the previous year.
  • Compared to the same month of 2019, the material index increased by 4.84% and the labor index increased by 14.93%.
  • Construction expenditures in the Euro Area continued to decline sharply in April 2020.
  • Construction employment rate, which started with a decline in the second quarter of 2020, entered an upward trend as of May.
  • The Composite Index increased by 3.23 points in June, reaching 71.07 points.
  • According to the THBB "Ready-Mixed Concrete Index" June 2020 Report, with the normalization calendar published in May, there was an increase in the activity index, expectation and confidence indices.

 

In this issue of the economy sector report that we have prepared as Entegre Project Management; you can get information regarding the changes of the data such as Gross Domestic Product, Sectoral Growth Rates, Construction Costs, Construction Steel Prices that included in our previous reports too. Also, you can find an opportunity to observe the effects of the Covid-19 on Construction Sector for both globally and for Turkey.

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Industry Reports Eylül 14, 2020 This article read 461 times
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