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Activity in South Africa's construction industry slipped in the fourth quarter of 2023, with the industry still beset by elevated interest rates and a dearth of state-driven spending on basic infrastructure, according to the latest Afrimat Construction Index.
The index, compiled by economist Roelof Botha, fell just over 1% to 118.9 points in the fourth quarter from the third, weighed down by declines in major components, including sales of building and construction materials, employment, as well as the value of buildings plans passed.
Year on year, however, it was still up 3%, driven mostly by a jump in wholesale materials and overall employment. Botha told News24 while this is encouraging, and traditionally the fourth quarter sees a slowdown, overall, the picture is "mixed".
