BRYTE CONSTRUCTION ACTIVITY MONITOR: JUNE 2017
We are delighted to announce the first edition of our Bryte Construction Activity Monitor, which provides a high-level overview of activity within the South African construction sector. This sector plays a vital role in growing the South African economy and is particularly important for our business.
The Bryte Construction Activity Monitor has been designed to measure, on a quarterly basis, changes in construction projects that are insured by Bryte. Our launch edition, particularly, looks at historical data since January 2001 – painting a comprehensive picture of trends over the past 16 years.
In addition to this, the Monitor highlights the infrastructure investment by the South African government (over an extended period) as well as the spend by some of the biggest construction companies in the country.
These are some of the highlights:
- A contraction of 15% year-on-year in insured construction activity for the second quarter of 2017
- Shrinking contribution to GDP
- A 12.9% decrease in the value of approved building plans
- A 26% contraction in the order books of the seven largest South African construction companies
- A steady increase in public-sector infrastructure spending