According to INDEC data, construction recorded its fourth consecutive monthly increase, reaching its highest level since February.
Construction activity grew 8% monthly in July and thus added its fourth consecutive improvement. Even so, it remained more than 20% below the level of November, before Javier Milei’s arrival at the Casa Rosada.
The sector already seemed to hit bottom in March, and since then it has been showing a sustained recovery. With this latest data published on Monday, the Synthetic Indicator of Construction Activity (ISAC) of INDEC reached its best mark since February, although it is still It remains 21.5% behind the value prior to the December devaluation.
On an annual basis, the decline slowed to 20.4%. in July, from 35.3% in the previous month. Despite the recent rebound, construction accumulated a collapse of 30.9% in the first seven months of 2024.
Regarding the apparent consumption of the main inputs of the sector, The largest year-on-year decreases were seen in granite and limestone mosaics, and ceramic floors and coverings.In parallel, more limited reductions were made in paints and plasterboards.
What does the sector expect for the coming months?
According to a survey conducted by INDEC with companies in the construction sector, Only 21.8% of companies that carry out private works expect activity in the sector to increase between now and Octobermainly due to the greater stability of inflation and the rebound in general economic activity.
Meanwhile, this figure drops to 17.3% among firms involved in public works. For this percentage, the resumption of public works will be the main driver of improvements.
For their part, firms that believe that activity will not grow in the coming months attribute this to the fact that the economy as a whole will remain depressed.
Source: Ambito
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