Sentiment in the South African civil construction industry is improving, despite it coming from a extremely low base.
The FNB/BER Civil Confidence Index increased to a six-year high in the first quarter of 2023, suggesting that sentiment in the civil construction industry is improving – albeit from an incredibly low base.
“The survey results point to a further improvement, possibly an annual expansion in construction works during Q1 2023. Importantly, however, is that this comes off an extremely low base,” said Siphamandla Mkhwanazi, Senior Economist at FNB.“Civil contractors have experienced significant profit margin pressure over the past few years. This seems to have eased somewhat this quarter, adding to the more upbeat mood,” said Mkhwanazi.
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