Johannesburg - The real value of
building plans passed as reported by larger municipalities rose by
8.3% quarter-on-quarter (q/q) seasonally adjusted and annualised
(saa) in the second quarter‚ according to Statistics SA (Stats SA)
data released on Thursday.
The real value of building plans
completed increased by 5.2% q/q saa in the second quarter.
The 0.6% annual increase in the real
value of buildings reported as passed in June was due to a 45.3%
year-on-year (y/y) surge in non-residential buildings‚ while
residential buildings showed a 19.4% y/y fall and the y/y change for
additions and alterations was a marginal 0.2% decrease.
The 19.3% y/y fall in the real value of
buildings plans completed in June was due to a 33.3% y/y decline in
non-residential buildings‚ while residential buildings showed a
11.4% y/y decrease. Additions and alterations fell by 18.9% y/y.
Lumpy non-residential building plans
such as shopping centres tend to lead to a volatile monthly series‚
so it is better to look at the seasonally adjusted annualised q/q
The building plan data is supported by
the cement sales volumes data released by the Cement and Concrete
Institute (C&CI). These showed that cement sales soared by 22%
y/y in January‚ but this slowed to a 7.4% y/y gain in February.
The Competition Commission in April
changed its stance on the data release and the C&CI is now only
allowed to report a quarterly figure at least 90 days after the end
of the quarter. It is also only able to report a national figure‚
not the regional or product detail. That means that the second
quarter cement sales data will only be available near the start of
The detail would allow economists to
better see how much of the cement sales are going into the new power
stations‚ mines‚ dams and residential buildings in rural areas‚
none of which is reported by Stats SA when they release the building
plan data for larger municipalities.
"We will engage the Competition
Commission on why the data may not be published‚" Treasury
Director Lungisa Fuzile said on April 13 in response to a question
from I-Net Bridge/BusinessLIVE.