Construction companies’ production value accumulated four monthly declines

Mexico City. The value of production by construction companies in Mexico accumulated four consecutive months of contraction in May; it also slowed its annual growth, reported the National Institute of Statistics and Geography (INEGI).

According to the Construction Company Indicators (Enec), the value of the production of construction companies in the country reported its fourth consecutive decline in May, contracting 0.8 percent compared to April, amid the completion of the emblematic works of the current administration, such as the Mayan Train, mainly.

Compared to May last year and with seasonally adjusted figures, the real production value of construction companies slowed down, going from an annual growth of 12.8 percent in April to 4.8 percent in May.

Meanwhile, with original figures, the value of construction companies reported an annual growth of 4.4 percent in May, supported only by construction with a growth of 10.9 percent, and by transportation, 1.9 percent, since in terms of oil and petrochemicals, the value of production fell by 1.7 percent, and water and sanitation, 1.5 percent.

Inegi presented the results of the National Survey of Construction Companies, which reveals the behavior of the main variables of the country’s construction sector.

In May 2024, and with seasonally adjusted data, the total number of employees in construction companies grew by 0.9 percent and the hours worked, as well as real average wages, increased by 0.7 percent, at a monthly rate.

Compared to May 2023, the total number of employed personnel fell by 0.6 percent and the number of hours worked by 1.4 percent in May of this year.