Argentina’s construction sector down 2% y/y in August
Construction activity in Argentina fell 2% year-on-year in August, Buenos Aires Economico (BAE) reported. The sector has lost about 5000 jobs per month in 2019 and this negative trend will continue in H2, BAE revealed citing sources from Argentine Construction Chamber.
According to these sources, the sector’s decline is mostly explained by the significant decrease in public spending. This caused delays in the execution of some projects and delays in payments to providers. Moreover, the decline of private investment in construction has been much more modest.
The constantly rising prices of construction materials also are having a negative impact on the local industry.Original source: Buenos Aires Economico (BAE)