The FNB/BER Building Confidence Index eased to 38 in the second quarter of 2026, down from 42 in Q1, marking a further contractionary reading for the construction sector. The survey points to a notable slide in both on-site activity and overall profitability across respondents this quarter.
For investors, a softer building cycle can ripple through listed property developers, construction contractors and materials suppliers, and may increase pressure on municipal projects and bank exposure to the sector. Slower construction activity also has implications for employment and downstream demand in related industries.
For more detail and the full set of survey measures, see the full announcement: the full announcement.