In March, construction grew at an annual rate of 4.5%, and positively surprised by its performance.
Construction industry grew 4.9% during the first quarter of 2012, compared to same period of the previous year, standing out by growing above the economy as a whole during the same period.
Within the sector, construction grew 5.1% in the first quarter, leading the advance of the sector; meanwhile construction of civil engineering or heavy works recovered 4.9% annual. Specialized construction works progressed 3.9% in the initial quarter of the current year, reported the National Institute of Statistics and Geography (INEGI).
In March, construction grew at an annual rate of 4.5%, and positively surprised by its performance. For example, Banamex analysts predicted that it would barely grow 2.9%.
BX+ financial group analysts claimed that the growth was related to infrastructure programs started at the beginning of the six year term that will end this year, so we could expect increased activity in this sector in the remains of the first half of the year.
In the Studies Service of BBVA Bancomer, they stressed that at the end of the first quarter construction maintains its upward pace.
Since early 2012, the sector has a positive growth scenario, due to the combination of two elements: the increase in the amount of resources earmarked for the subsidy for the acquisition of housing and the completion of various projects of infrastructure before the end this six years administration. Therefore it was expected that since the first quarter construction grow above the average of economy as a whole and that it is estimated that it could be of 4.5% (the official figure will be released this Thursday, May 17th).
Private consultancy CAPEM forecast for the whole year a 4.4% sector growth, while BBVA Bancomer analysts expect that the expansion of the construction sector is of 3.8% in 2012. (Ricardo Vazquez – Mexican Business Web)
