The Department of Financial Studies and Forecasts (DEPF) reports, in its recent economic report, a positive development in cement sales during the month of May 2022.
“For the year 2022, following the decline in cement sales, the main barometer of construction activity, during the months of March and April, sales rose once more during the month of May 2022, i.e. + 7.1%”, indicates the DEPF in this note, recalling that the added value of the construction industry increased by 10.7% in 2021.
In addition to the month of Ramadan which coincided with the month of April, significant rainfall was recorded during March and April, notes the same source. The disturbances on the international market have also caused supply difficulties and a rise in the price of construction inputs in recent months.
With the exception of the ready-mixed concrete segment which fell by 7.7% in May, all the other segments recorded increases, like the distribution segments (+9.3% ), infrastructure (+24.4%), prefab (+8.4%) and building (+19.8%).
Given this development, the decline in cement sales eased to 3.1% at the end of the first five months of 2022, following -5.1% a month earlier and +25.4% a year earlier.
Regarding the outstanding amount of real estate loans, it appreciated, at the end of April 2022, by 2.3% to 293.1 billion dirhams (MMDH). This development incorporates the increase in the outstanding amount of housing loans by 3.2% to nearly 235 billion dirhams, moderated by the decline in that of loans granted to property development by 3.2%.
Source: MAP
