Mexico’s construction output dropped by 27.3pc in August from the same month last year, due to lower demand for civil engineering works and specialized infrastructure projects, which in turn, also hurt steel demand.
Construction related to civil engineering works fell by 31.8pc in August from the same prior-year period, while the construction of specialized infrastructure projects dropped by 24.3pc during the same period under comparison, according to National Statistics Agency (Inegi) data released on Monday. The construction of new buildings declined by 23.8pc in August compared with the prior-year period.
Contracts for construction industry personnel decreased by 19.8pc, while their hours also fell by 19.9pc, translating to 100,000 fewer personnel working in the construction industry due to the effects of the pandemic, Inegi noted in its report.
The Mexican construction and steel industries have been significantly affected by the COVID-19 pandemic. The country’s crude steel output reduced by 3.9pc to 1.40mn mt in September from 1.45mn mt in the same month of 2019, according to the latest figures released by the World Steel Association.