Disruptions in the international supply chain, increases in construction material prices, and rising labor costs are causing a decrease in profit margins for projects and a downward trend in sector-specific data related to the construction industry. High financing costs and tightening economic policies slow down demand for construction investments, while also leading to labor shortages. The establishment of financial support mechanisms for the sector and the strengthening of existing financial packages are expected to increase the momentum of sectoral data in the second quarter of the year.
When the activities constituting the GDP are examined, in the first quarter of 2024, compared to the previous year, according to the chained volume index:
- Financial and insurance activities increased by 2.0%,
- Real estate activities increased by 2.5%,
- The service sector increased by 4.3%,
- Agricultural activities increased by 4.6%,
- Industrial activities increased by 4.9%,
- Construction activities increased by 11.1%.
