The figure is the worst registered in 7 years
Chile’s construction activity measured by the IMACON indicator fell 3.9% y/y in November, CEEMarketWatch reported citing the Chilean Construction Chamber (CChC). The figure was the worst result of the index in seven years, much higher than the 0.29% y/y fall seen in November 2015.
CChC head Sergio Torreti pointed out the reflection of low private investment and general economic weakness as the main reasons for the decline. Torreti highlighted that construction activity depends mainly on the investments decisions of other productive sectors.
According to CEEMarketWatch, the restrictive access to credit and the lower credit demand observed in all economic segments contribute to paint a pessimistic outlook in the short-term.
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