According to the news of Hürriyet Daily News, for the first time in two years, Turkey saw increasing dynamism in its construction sector for two months in a row, a report from the Turkish Ready Mixed Concrete Association (THBB) revealed on Nov. 8.

The acceleration, which began in September and continued through October, indicates a significant recovery in the sector compared to the same period last year, according to the Ready-Mixed Concrete Index.

THBB chairman Yavuz Işık said the construction sector benefits from a period of low-interest rates in the country and greater involvement by foreign investors.

However, while all indices increased compared to October 2018, the Confidence Index rose at the slowest rate, suggesting that permanent improvement has not yet been realized.

“At times when the risk appetite and economic confidence is weakened, the sector becomes fragile,” said Işık.

He added that sector actors’ hopes would be “somewhat satisfied” by increased optimism in global trade, reduced geopolitical risks, interest rate cuts by the Turkish Central Bank and improved expectations by credit rating agencies.

“Although the effects have not yet been fully reflected, the recent interest rate cuts led to a 15% of increase in housing sales in September,” he said.

Source: Hürriyet Daily News
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Production in construction sector decreased by 1.4%
Seasonally and calendar adjusted production index in construction decreased by 1.4% compared with the previous quarter in the fourth quarter of 2016. Calendar adjusted production index in construction increased by 0.5% compared with the same quarter of the previous year and increased by 2.9% in 2016 compared with the previous year.

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The specialists claim that there is generated two tonnes of waste per person in European construction sector every year.

On the other hand, by recycling those wastes, they may contribute balanced economy.

Source: Euronews

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Among the activities that constitute gross domestic product; the total value added of the activities constituting the agricultural sector decreased by 4.1% in 2016 compared with the previous year in the chained linked volume index, the total value added of the activities constituting the industry sector increased by 4.5%, the total value added of the activities constituting the construction sector increased by 7.2% and the total value added of the activities constituting the service sector decreased by 0.8%.

Gross Domestic Product Per Capita was 32 676 TRY in 2016
The gross domestic product per capita in 2016 was 32 676 TRY and 10 807 US Dollars at current prices.

Gross Domestic Product (GDP) in the fourth quarter increased by 3.5% in the chain linked volume index
Gross domestic product increased by 3.5% compared to the same quarter of previous year in the fourth quarter of 2016.

Gross domestic product with production method was 734 billion 393 million TRY at current prices. Among the activities that constitute gross domestic product; the total value added of the activities constituting the agricultural sector increased by 1.3% in the fourth quarter of 2016 compared with the same quarter of the previous year in the chained linked volume index, the total value added of the activities constituting the industry sector increased by 5.0%, the total value added of the activities constituting the construction sector increased by 3.7% and the total value added of the activities constituting the service sector increased by 1.8%.

Calendar adjusted gross domestic product in the fourth quarter of 2016 increased by 3.5% compared to the same quarter of previous year. Seasonally and calendar adjusted GDP increased by 3.8% compared to the previous quarter.

Final consumption expenditures of households at chained volume measure increased by 2.3% in 2016.
Final consumption expenditures of households increased by 2.3% in 2016 compared to the previous year’s chain linked volume index. The share of household consumption expenditures in GDP was 59.5%.

In 2016, the share of government final consumption expenditures in GDP was 14.7%, while the share of fixed capital formation was 29.8%. According to the previous year’s chain linked volume index, final consumption expenditure by the government increased by 7.3% and gross fixed capital formation by 3%.

Household final consumption expenditure increased by 5.7% in the fourth quarter.
Household final consumption expenditure increased by 5.7% in the fourth quarter compared with the same quarter of the previous year in the chained linked volume index, government final consumption expenditure increased by 0.8% and gross fixed capital formation increased by 2%.

Exports of goods and services decreased by 2%, imports increased by 3.9% in 2016.
In 2016, exports of goods and services decreased by 2%, while imports increased by 3.9% compared to the previous year’s chain-volume index. Exports of goods and services increased by 2.3% in the fourth quarter compared with the same quarter of the previous year in the chained linked volume index, imports of goods and services increased by 3.3%.

Compensation of employees increased by 22.8% in 2016.
Compensation of employees increased by 22.8% while Net operating Surplus/Mixed income increased by 2.6% in 2016.

Compensation of employees increased by 19.7% in the fourth quarter.
Compensation of employees increased by 19.7% while Net operating Surplus/Mixed income increased by 7.7% in the fourth quarter with respect to same quarter of previous year.

The share of compensation of employees in gross value added was 33.3%
The share of compensation of employees in the gross value added was 33.3% in the fourth quarter of 2016 while it was 31.2% in the same quarter of previous year. The share of net operating surplus/mixed income was 51.2% while it was 53.4% in the same quarter of previous year.

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In services sector; business situation, demand-turnover and demand-turnover expectation indices increased by 4.1%, 3.5% and 5.5% respectively compared to the previous month.

Retail trade confidence index realized as 97.7
Seasonally adjusted retail trade confidence index decreased by 0.3% in March to 97.7. This decrease in the retail trade confidence index resulted from the decreased number of managers evaluating “current volume of stock” as below normal for the season and expecting an improvement in “business activity-sales” over the next three months. The number of managers evaluating improved “business activity-sales” over the past three months increased.

In retail trade sector; current volume of stock and business activity-sales expectation indices decreased by 1.5% and 1% respectively while business activity-sales index increased by 1.9% compared to the previous month.

Seasonally adjusted sectorial confidence indices, March 2017

Construction confidence index realized as 85.8
Seasonally adjusted construction confidence index which was 76.4 in previous month increased by 12.3% in March to 85.8. This upswing in the construction confidence index stemmed from the increased number of managers evaluating “current overall order books” as above normal for the season and expecting an increase in “total employment” over the next three months.

In construction sector; current overall order books and total employment expectation indices increased by 16.9% and 9.3% respectively compared to the previous month.

Seasonally adjusted sectorial confidence indices, sub-indices and the rate of changes,
March 2017
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