Production value of construction companies regained momentum in January

The construction industry started 2022 with optimism. During January, the production value of construction companies in seasonally adjusted figures registered an increase of 3.7% compared to the previous month, which is the second largest monthly increase since March 2021, according to with the National Institute of Statistics and Geography (Inegi).

In addition, the highest level of the indicator since March 2020 was reached, prior to the drastic drop of 12.5% ​​in April of that year due to the Covid-19 pandemic, when it was already going downhill due to the slow flow of public investment.

In its annual comparison, the production value had an increase of 10.5 percent.

According to the institute, in a monthly comparison, during the first month of the year the total employed personnel grew 0.0%, the hours worked decreased 0.7% and the real average remuneration increased 1.4 percent.

While in the annual growth was 4.9, 6.4 and 3.6%, respectively.

One of the “engines” of behavior in January was the building sub-segment (which represents 41% of the total and is in charge of private initiative and includes: industrial, commercial and service buildings, housing or schools), which had a third consecutive monthly increase, in January of 0.5%, which had not occurred since the 22.4% crash in April 2020.

For its part, the transportation category (with a 26.7% share and involves public works for highways, roads, bridges or airports) grew 9%, with which it reversed three months in a row with negative numbers. Other constructions (representing 14% of the total and referring to Installations in buildings and masonry and finishing works, among others), grew 4.7% compared to the previous month.

Regarding these results, the president of the Mexican Chamber of the Construction Industry (CMIC), Francisco Solares, said that the year started well and that the slight improvement in public investment is beginning to generate enthusiasm for a sustained recovery in the sector, then that in the previous months there were various ups and downs.

“Undoubtedly, this is very good news that confirms our enthusiasm with everything and the challenges we face, such as the participation of the Army in the development of infrastructure. We hope that things continue along this path to the benefit, above all, of small and medium-sized companies, which are the majority of our members”, he commented.

The business representative reiterated that the bad moment in the sector had been going on since before the pandemic and with the numbers known, it will not be until 2024 when it can return to the billing levels of 2019.

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