Argentine construction activity slows down for third month running
Argentine construction activity in Argentina during June dropped for the third consecutive month compared to a year ago. The drop was 1.5% according to the Construction Activity Synthetic Index (ISAC) from the country’s stats office, Indec.
As a result of this the construction industry ended the first semester with a 0.8% decrease. However on a monthly basis the Indec in June increased 2.4% compared to May.
Regarding prospects the main construction companies both those involved in public works as in the private sector and which were polled by Indec, said that in the third quarter the decrease tendency in activity will persist.
According to the poll, 50% of those involved in the government and private sector, the level of activity will fall in July-September said Indec.
The surface to be constructed and registered according to building permits for the private sector in 42 counties of metropolitan Buenos Aires, in June was down 4.2% compared to May and 14.1% year on year.
Likewise figures released at the beginning of July showed that the surface in square metres of registered building projects had collapsed 46% in the City of Buenos Aires compared to a year ago.
Although this can be attributed to a slowing down of the Argentine economy and the industry, it is also true that the US dollar clamp, increasingly tighter since last October had virtually frozen the real estate market since most operations traditionally are (were) done in US dollars.
The construction industry both in jobs and investment has been one of the pillars of Argentina’s strong recovery in the last eight years.
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BK, do you think CFK is letting out murderers and rapists to be part of the La Campora brown shirts?
He is dead. This model was based on getting Argentina growing again and out of the depression. It is not a model which will serve them now. Unlike you I have some links to Argentina and can talk to people on the ground about what is happening. Unlike you, I have an actual idea of what is going on. Unlike you I am able to make decisions based on economic and political reality rather than blind loyalty to a figure who runs a country that that I‘ve never been to. Even the most Kirchnerist supporters amongst my family have done exactly what people Axel have done and are getting their money away from the hands of the government. You wouldn’t know this because you’ve never been to the country and have no idea of what is going on but the general attitude of my Kirchnerist friends is, “Yes, we can see this is all going to go horribly wrong and soon. In the mean time, let’s just try and live well and get our cash in something safe so we can live when the crash happens.” My uncle liquidated most of his peso savings and has just bought about 20 new cars as a hedge. We are also looking at visas for my little brother-in-law as when/if this happens things could get ugly. You, of course, don’t understand that because you know nothing of the country.
Just as you have no idea about Argentina because you’ve never been there and don’t understand the country, you also don’t understand sarcasm. Any crash in Argentina will hit family there and will make their lives very difficult. You, of course, won’t care as you have no links, no vested interest and are only interested in writing inane dribble based on what CFK looks like in a couple of photos.
On a very much lower level than your uncle, I have just bought a LED TV (assembled in TDF) for an exorbitant price as a hedge against inflation (locally dollars are unobtainable) and to watch the Olympic Games which are really good and take ones mid off the deepening crisis!!!!!
I hope you're enjoying the Olympics. How popular is it amongst your community? TiT would try to have us believe nobody is interested.
TTT is an egotistical liar, I did a small survey of a group of aquaintances in our town and the answer is:
Fanatic following of Olympic Games(OG)= 10 out of 13
Interested in Argentine participation in OG= 13 out of 13
Not interested in OG = 0 out of 13
Not conclusive proof that Argentines follow the Games, but certainly an indicator that they do!!!!
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