Turkey’s construction cost grows 10.8% y/y in Aug
Turkey’s construction cost index rose by 10.8% on an annual basis for August 2019, CEEMarketWatch reported referring to data provided by the country’s statistical office Turkstat. In comparison, its growth for July was 18.4%.
The slowdown on a monthly basis was caused by a decline of input material costs which dropped by 4.7% in comparison to July 2018. The material costs growth was affected by the cumulative decline in global oil and steel prices and the partial recovery of the lira exchange rate.
In the meantime, the headline construction cost index fell by 0.7% on a monthly basis for September 2019, Thus, it extended into a three month-downward trend, CEEMarketWatch added.Original source: CEEMarketWatch