You are here: Home > Steel News > Latest Steel News > Construction...

Construction value in Mexico down 13.1 percent in August

Friday, 25 October 2024 10:09:00 (GMT+3)   |   San Diego
       

The value of construction works, the largest consumer of steel in Mexico, decreased in August by 13.1 percent, year-over-year, according to SteelOrbis' analysis of data from the national statistics agency Inegi. Considering the statistics adjusted for seasonality and inflation, in August the annual contraction in the value of construction works decreased by 15.3 percent.

In Mexican currency and considering today's peso-dollar exchange rate, the value of work in the construction industry in August was the equivalent of $2.84 billion.

Of the 32 states in the country, the value of construction works increased in 16. All of them contributed 58.3 percent of the total with $1.66 billion.

The five largest construction economies in the Mexican market in August were Nuevo Leon with construction works worth the equivalent of $316 million (11.1 percent of the national total), Quintana Roo with $192 million (6.8 percent), Jalisco with $181 million (6.4 percent), Campeche with $153 million (5.4 percent) and the state of Mexico with $151 (5.3 percent). Together, the five contribute 35.0 percent of the total.

So far this year, with public data, the construction industry contributed 7.0 percent of Mexico's total GDP ($1.96 trillion), according to data from the Mexican National Accounting System, reviewed by SteelOrbis.


Similar articles

Mexican government to build 225 km passenger rail network for $3.8 billion

15 Oct | Steel News

Mexican government to invest $30.2 billion for 1 million homes

15 Oct | Steel News

Construction value in Mexico down 7.5 percent in July

25 Sep | Steel News

Construction value in Mexico down 0.9 percent in June

26 Aug | Steel News

Construction value in Mexico up 5.8 percent in May

25 Jul | Steel News

Construction value in Mexico up 15.8 percent in April

24 Jun | Steel News

Construction value in Mexico up 15.5 percent in March

23 May | Steel News

Construction value in Mexico up 25.9 percent in February

22 Apr | Steel News

Construction value in Mexico up 30.1 percent in January

25 Mar | Steel News

Construction value in Mexico up 41.9 percent in December

26 Feb | Steel News