The construction sector contracted 1.2 percent year-on-year in March.
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Turkey's construction output index declined 1.2 percent year-on-year in March.
The data shows that the construction sector recorded a contraction for the first time in three years. This decline reflects weakening demand in the sector and the impact of economic uncertainty.
Turkey's construction production index declined by 1.2 percent on an annual basis in March. High interest rates and difficult access to financing have caused a decrease in demand for residential and commercial projects.
This slowdown in the construction sector signals a potential stabilization in housing prices and longer delays in project launches; planned renovations or relocation decisions for your home may become more expensive. For workers employed in the sector, early indicators point to a critical period in terms of job security.