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CONSTRUCTION EXPENDITURES INCREASE

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Monthly Sector Reportprepared by Turkey Association of Turkish Building Material Producers (IMSAD) is published. According to the report, the expenditure in housing construction increased by 9, 5% in 2014. The increase was recorded as 5, 9% in the period between September 2014 and 2015.During the same period labor and building material costs increased by 8,2% and 5,2% consecutively and remained below the annual inflation rate. The report stated that the increase in the annual housing construction costs is below the increase rate in new housing prices and did not establish a price increase pressure yet.Construction expenditure reached to 47,3 billion liras with an increase of 8,3% in the second quarter making the increase rate in the first half of the year reach 5,5% totaling 87,9 billion liras. The report indicated that while the public construction expenditure increased by 3, 6% and escalated to 16, 1 billion liras in current prices, the private sector spent 31, 3 billion liras on construction with 10, 9% increase. In the first half of the year, there has been a decrease in public construction expenditures and an increase in private sector expenditures.