MercoPress. South Atlantic News Agency
Construction activity in Argentina remains steady as investors choose “bricks”
A horizon view of Buenos Aires spotted with new buildings Argentina's construction activity rose 7.3% on the year in August, as builders and private investors continued to benefit from a booming economy and high inflation.
Construction activity decreased 1.8% last month from July, the national statistics agency, Indec, said in a report Friday. Both measures of activity were seasonally adjusted.
The construction industry is benefiting from an economy that the government says will grow about 8% this year, plus virtually neutral or negative interest rates which has depositor investing their savings in “bricks”.
Annual inflation that most private-sector economists say is running above 20% and spending on public works have also helped the sector.
Historically, Argentines have invested their money in hard assets like real estate as a hedge against inflation.
The following annual increases were observed in the sale of construction materials in August: cement, 11.9%; bricks, 20.3%; rebar, 8%; and paint, 10.2%, says the Indec report.
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Oct 01st, 2011 - 09:05 am 0This construction activity…,
as the record high employment….,
as the record high crop estimated for this year ….,
as the record high export of manufactured goods….,
as the record high occupation of leisure and tourist facilities….,
as the record high taxation income flowing into the Government coffers……
as the record high consumption of goods and services by the Argentinean People….,
as the record high accept by the Argentinean people of the heterodox policies applied by our Government….,
Must be, for any respectable Brutish Turnip, clear and self-evident omens of the imminent collapse of the Argentinean Economical and Political systems……………..
People are satisfied and having a happy life ? that's the most important.
Oct 01st, 2011 - 09:55 am 0(2) Retroqqq
Oct 01st, 2011 - 11:11 am 0You say:
“People are satisfied and having a happy life ”
I say:
Well......... That's the final proof any respectable Brutish Turnip needs to certify the imminent collapse of the Argentinean Economical and Political systems...;-)
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