Méxican construction companies are hitting historically low numbers

MEXICO CITY (Agencies)- Faced with stagnant investment in Mexico, the value of production generated by construction companies fell by 10.2% in August 2019 compared to the same period last year. This is the lowest level recorded since January 2006.

Photo archive (PHOTO: El Universal)

With this fall, the production generated by construction companies in the country accumulates 14 consecutive months to this annual drop, that reached 28.7 billion pesos in August.

That figure is 1.5% lower than what was reported a month earlier according to the most recent results of the National Survey, released by Inegi.

Production value breakdown:

The value of production being generated by works related to the construction sector, representing 46.5% of the total, reported a decline of 6.6% at annual rate and -2.8% at monthly rate, during the last month of August.

In its annual comparison, hours worked decreased 4.4%, total employed personnel was lower by 4.2% and the average salary dropped by 1% in August 2019 (compared to the same month a year earlier).

The Yucatan Times Newsroom