The value of works in the construction industry, the largest consumer of steel in Mexico, registered a nominal increase (without adjustment for inflation) of 41.0 percent, year-over-year, in November. It is the 33nd consecutive annual increase, according to SteelOrbis analysis of data from the national statistics agency Inegi.
In real terms (seasonally adjusted data), the annual increase was 36.7 percent. In current Mexican currency, considering today's peso-dollar exchange rate, the value of works in the construction industry is equivalent to $3.73 billion.
Of the 32 states in the country, in November the value of works grew in 25, of which Quintana Roo stood out with an increase of 240 percent. In Guerrero, where Hurricane Otis destroyed the Buenos Aires city of Acapulco, the value of the works increased 191 percent.
In the states of Oaxaca, Durango, Campeche, Hidalgo and Baja California the annual increase was greater than 100 percent up to 138 percent. The 25 with growth contributed 87.3 percent of the total value.
In contrast, in the seven entities where the value of construction works decreased. Tabasco and Tlaxcala stood out with losses of more than 53 percent.
In Mexico City (Mexico's largest economy by its contribution to GDP) it decreased 1.2 percent. The five shrinking states contribute 12.7 percent of November's total value.
The accumulated value in the January-November period of construction is MXN 602 billion, which at today's exchange rate represents $34.30 billion.
In that same period, the five largest construction economies in the Mexican market were Quintana Roo with 9.8 percent of the total, followed by Nuevo León 8.2 percent, Jalisco with 6.9 percent, Campeche with 6.7 percent and Sonora with 5.4 percent of the total.
The construction industry contributes 6.0 percent of Mexico's total GDP ($1.59 trillion).