İMSAD: Residential sales decline

According to the monthly report from Turkish Construction Materials Association (Türkiye İMSAD), the production of construction materials in July this year increased by 29.8% compared to the same period last year. The increased number of working days in July 2023 also had a positive impact on this growth.

Demand conditions in external markets remained weak in July. Domestically, expectations of new pricing policies and economic measures after the election also weighed on production and sales. In July, production increased in 19 of 22 sub-sectors compared to a year earlier, while it decreased in 3 of them.

The largest increase (46.2%) was in metal structures and parts.

According to the report, construction work began to rebound in September. The level of current construction work in September rose 2.3 points from the previous month.