Construction production index increases nearly 11 percent
ANKARA
The construction production index rose by 10.8 percent in November 2024 from the same month of 2023, accelerating from the 6.9 percent annual increase recorded in the previous month.
On seasonally and calendar adjusted basis, the headline index was up 3.2 percent month-on-month, after declining 0.9 percent in October 2024, data from the Turkish Statistical Institute (TÜİK) showed on Jan. 15.
The construction of buildings index increased by 14.3 percent, the civil engineering index rose by 8.3 percent and the specialized construction activities index was up by 0.9 percent in the month, the statistics authority said.
The country’s large construction sector expanded by 9.2 percent year-on-year in the third quarter of 2024. In the first and second quarters of last year, the construction sector grew by 10.9 percent, respectively.
Separate data TÜİK released on Jan. 15 showed that the services production index, which plunged 2.1 percent annually in October, rose 0.9 percent in November 2024 from a year ago.
In the same month, transportation and storage services decreased by 3 percent, accommodation and food services increased by 6.9 percent, while information and communication services fell by 2.5 percent annually, TÜİK said.
The annual increase in real estate activities was 11.6 percent.
The services production index fell by 0.2 percent in November, after inching up 0.1 percent in the previous month.