Argentinean construction activity down by 3.2%

Argentinean construction activity down by 3.2%
Published: 08 October 2009

Argentine government’s National Institute of Statistics & Census said that Argentina’s construction activity in August showed a seasonally adjusted 3.2% decrease compared to the same month last year, yet a 1.8% increase as compared to the previous month.

According to INDEC’s data, the accumulated activity in the Argentine construction sector in the first eight months of 2009 dropped by 2.8% YoY. Construction permits in August declined 0.1% when compared to the previous month and fell by 17.9% when compared to August of 2008.

A separate survey showed that only 5.6% of the firms in charge of public construction expressed hope that the situation will improve. On the other hand, 38.9% expects activity to go down and 55.5% expects stability.

The firms surveyed in the private sector have a more negative perspective as none of them expressed hope that the situation would improve while 45.5% expect a contraction and 54.5% foresee stability.