Turkey’s construction cost index rises 21.1% y/y in June
Turkey saw its construction cost growth slow down to 21.1% on an annual basis for June 2019, CEEMarketWatch reported referring to data provided by the country’s statistics office Turkstat. In comparison, the cost index in May rose by 24.9% year-on-year.
On a monthly basis, the index for June declined by 0.8% due to a drop in input material costs. The slowdown was attributed to the lira appreciation and the decline in global commodity prices.
The retreat trend in the sector is expected to continue in the next months, again due to the modest lira exchange rate and commodity prices, especially those of oil, CEEMarketWatch noted.Original source: CEEMarketWatch