Last February, the Construction Activity Index (ISAC) showed that A decline of 24.6% Compared to the same month in 2023, according to INDEC data. It's the worst result for the sector since the shutdown caused by the pandemicIt lost 76% of the measure year-on-year.
The industry also had a bad month, albeit with a smaller loss Separate 9.9% As against the same month last year. It fell by 12.9% in November 2023.
Both the sectors have been hit hard by the recession affecting the economy and the economy This would end up with a 4% drop in GDP for the full year, According to individual predictions.
In February, construction lost 2.6% compared to January and industrials fell 0.7% over the same period.
15 of the sixteen sectors that make up the industrial index fell in February. Although machinery and equipment saw a pronounced increase of 33%, only tobacco production was spared with an increase of 17%.
The motor vehicles, bodies, trailers and auto parts segment declined 12.2% year-on-year. The production of motor vehicles, which has a major negative impact, shows A decline of 17.7% year-on-year. According to industry representatives, the plant shutdowns were extended due to difficulties in paying foreign suppliers for the import of inputs.
According to data from the Association of Automotive Industries (ADEFA), in February 2024, the number of production units of utility vehicles and automobiles will decrease once a year. 21.6% and 16.1% respectively.
A summary of the construction is realized in the inputs. In annual measurement, Asphalt production fell by 64.9% And there was a 45.9% drop in round iron and steel for construction and a 34.8% drop in precast concrete. Meanwhile, there was a 2.0% increase in construction paints.
Additionally, INDEC reported that employment registered in the construction sector fell by 8.1% in January compared to the same month of the previous year. 37,000 job losses in one year.
The INDEC measure includes a survey of builders' expectations. 53.6% of companies mainly engaged in private sector expect this The performance status of the sector will not change in the next three months. 39.1% predicted a decrease and 7.3% predicted an increase.
But the current administration's cost-cutting policy has left the public works sector vulnerable. Basically dedicated companies have this segment, 73.0% believe that the level of activity will decrease during the March-May 2024 period25.0% believe it will not change and 2.0% believe it will increase.
To describe the reasons for the decrease in activity, they cite the state of the economy (29%), price instability 26%. and delays in the payment chain (26%).
The survey of market expectations released by the central bank this Monday is estimated Economic activity will shrink by 3.5% per year.
Estimates for the first quarter of the year A decline of 3.8%. From the consulting firm ACM they point out, “It is based on EMAE (indicator that allows for the anticipation of quarterly activities), the results of February and March should, at least, equal the level recorded in January. The activity of the leading indicators suggests the possible intensity of the trend recorded so far, “This panorama is challenging.”
