Slack in the construction sector continues

During October, the value of production generated by construction companies, in seasonally adjusted figures, grew 0.1%, compared to the previous month, adding two consecutive months of increases, although it is still 0.6% below the best level it has ever had. in the year (June), according to data from the National Institute of Statistics and Geography (Inegi).

Compared to the same month in 2021, the increase was 0.8 percent.

“At a monthly rate, in October of this year, total employed personnel increased 0.3%, hours worked 0.4%, and real average wages fell 0.3 percent,” it was detailed.

In the case of employed personnel, it was noted that the components used and others registered monthly drops of 0.2 and 1 percent. In the hours worked there was a negative sign in employees and others, while, in real average remunerations, the salaries paid to employees decreased by 1.8 percent.

At an annual rate, total employed personnel grew 4.5% (with a 9.7% drop in the category of non-dependents of the company name), hours worked increased 3.1% (with a 4.4% decrease in non-dependents of the company name). social) and real average wages, 0.7 percent.

building ups and downs

The slight increase in the production value of the construction companies in the tenth month of the year was a consequence of the 0.9% growth in the building category (which represents 39.4% of the total works and includes industrial, commercial and service buildings and housing developed by the private sector), after coming from a monthly drop of 0.6 percent.

On the contrary, in the transportation and urbanization segment (with a participation of 20.2% and focused on highways, roads and bridges) it went from a growth of 1% in September to a fall of 5.6% a month later.

Meanwhile, oil and petrochemical works (the third most important with a participation of 13.5% and basically related to refineries and oil plants) added their sixth consecutive month of increase (in October of 5.3%).

By the end of this year, the production value of construction companies is expected to maintain some progress due to works such as foundation reinforcement works at the Mexico City International Airport or the Mayan Train.

alejandro.delarosa@eleconomista.mx