Mexico Construction Begins Its Recovery

Construction begins its recovery

11/11/2010 22:20



Mexico. The builders leave behind the red numbers and begin to recover.

After seven consecutive quarters in a recession, the construction industry manages to grow at an annual rate of 0.9%.

In September, particularly the construction industry reported a growth annual rate of 4.7%, the best monthly report since July 2008 and had three monthly progress (seasonally adjusted) in a row.

The National Housing Commission (CONAVI) noted that until the end of the third quarter saw a recovery in the replacement housing inventory by 8% over the same period last year, which is an important indicator of the rise in new home construction and that in turn, reflects the performance of the building.

The President of the Mexican Chamber of Construction Industry, Jose Eduardo Correa Abreu recently informed about the need for a greater boost for the sector and requested for 2011to increase considerably the budget for infrastructure and not to reduce it.

INEGI reported 5.8% growth of building in September.

The construction of civil engineering works or heavy work rose 2.4% in September and specialized work for the construction 7.7% in the same month according to the institute.

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