South Africa’s (SA) construction sector recorded a 0.3% increase in the first quarter of this year, according to the latest Afrimat Construction Index.
The sector’s marginal quarterly growth reflects a much stronger long-term performance, marking a year-on-year increase of over 5% in the value of both building completions and general construction works.
Dr Roelof Botha, economic advisor at Optimum Investment Group, notes that while the index demonstrates the industry’s resilience, high interest rates continue to hold it back from its full potential.
Despite the constraints, the year-on-year surge indicates a steady undercurrent of activity in the sector as firms navigate the challenging economic climate.
–ChannelAfrica–
