Mexico City. The value of construction companies’ production increased by 3.9 percent in June compared to May, a result that translated into three consecutive months of growth, the National Institute of Statistics and Geography (INEGI) reported on Friday.
The annual rate variation of the National Survey of Construction Companies (ENEC) showed a fall of 2.3 percent.
The monthly figure for June added the third consecutive growth, after reaching its lowest level so far this year in April, however the figure for the sixth month was in a similar position to that observed in May 2023.
After December of last year, the measurement began to observe a downward trend, so it has not shown the dynamism reported in 2023.
In June 2024, 58.5 percent of the value of production in this sector was contracted by the private sector, while 41.5 percent by the public sector.
By subsector, the government contracted 87.1 percent of the construction of civil engineering works, while private companies accounted for 64.3 percent of the construction.
By specific type, the public sector contracted 49.2 percent of the transportation and urbanization works. In particular, railway works, which are related to the Mayan Train, stood out with 28.5 percent, while 16.8 percent corresponds to highways, roads and bridges.
The works for the Olmeca refinery of Petróleos Mexicanos (Pemex) still showed momentum, as the public sector contracted 23.0 percent of the value of construction in refineries and oil plants. It should be noted that in the seventh month the works would already be complete, as the new plant of the state company began to operate.
For this reason, the flagship projects of President Andrés Manuel López Obrador continue to accelerate this industry that has an impact on 185 of the 262 branches of the Mexican economy.
Another fact that shows the above is that in Quintana Roo, where the last sections of the Mayan Train are being built, 11.6 percent of the construction value was contracted, placing it in first place in June 2024.
The number of workers employed in this industry fell 0.6 percent in June compared to May, while the annual rate rose 2.9 percent.
Hours worked decreased by 1.8 percent monthly in the sixth month, while compared to June 2023 this component showed a delay of 0.3 percent.
Average real wages fell 3.3 percent in the reference period compared to May. At an annual rate, they rose 7.8 percent.
#Construction #companies #production #grew #June
– 2024-08-26 00:46:55
