Moroccan 1H13 double digit sales fall

Cement sales in Morocco have hit a new low, with 1H13 figures noting a 12.6 per cent fall YoY as the real estate and public works sectors experienced a slowdown in activity.

The downturn in the real estate sector is particularly prevalent in medium-sized and top-end housing construction. Meanwhile, public works have felt the impact of the government’s decision to cut its investment budget by MAD15bn.

Moreover, the expansion of the infrastructure segment during 2008-12 has now come to an end, leading to a further reduction in cement demand.