Afrimat construction index: building activity tapers off
The Afrimat construction index fell for a second quarter in a row, but only marginally, due to political events, said economist Roelof Botha. Afrimat has open-pit mines that provide industrial minerals and construction materials. Since hitting an eight-quarter high of 127 in the fourth quarter of 2016, Afrimat’s index has declined steadily to reach a level of 117 in the second quarter. The composite index of activity levels in the building and construction sectors is compiled by Botha on behalf of Afrimat. The index is calculated from nine constituent indicators including the FNB/Bureau for Economic Research building confidence index. Botha said the index had been affected by low business and consumer confidence during the second quarter, mainly influenced by a series of political shocks, including major changes to the executive leadership at the Treasury and the fiscal threat imposed by significant losses at a number of state-owned enterprises. Botha said policy uncertainty was a c...
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