The production value of construction companies falls 4.8% in January: INEGI

Bad start to the year for the construction industry. In January, the production value of companies (in seasonally adjusted figures) registered a fall of 4.8%, compared to the previous month, thus breaking a streak of four consecutive months of growth. Compared to the same month in 2022, an increase of 3.9% was reported, based on data from the National Institute of Statistics and Geography (INEGI).

At a monthly rate, in the first month of 2023 total employed personnel fell 1.3% and real average wages 0.5%, while hours worked increased 0.2%.

The results of the National Survey of Construction Companies (ENEC) show that works related to edification (mainly housing, industrial, commercial and service buildings in charge of the private sector), which has a participation of 42.8% of the total, had a monthly growth of 1.2% (in December it increased 3.5%).

The works of transport y urbanization (railway works, highways, roads and bridges, among others developed with public resources and a participation of 23.0%) had a decrease of 3.4% in January (the previous month they decreased by 1.4%).

One factor that influenced the drop in the production value of construction companies was the oil and petrochemical segment (refineries, oil plants, oil and gas pipelines, for example), which has a 13.1% share and added a 17.1% drop. , the previous month the drop was six percent.

In a methodological note, INEGI explained that the survey “generates statistical, reliable and timely information on economic indicators that allow us to know the evolution and behavior of the economic activity carried out by construction companies in the country” and that it uses the Industrial Classification System of North America and the technical standard for the production process of statistical and geographic information.