Construction GDP recorded its worst fall in 25 years

HERMOSILLO – This year presented the strongest fall in the Gross Domestic Product (GDP) of construction in 25 years, said the president of the Mexican Chamber of Construction Industry (CMIC) in Sonora, Eduardo Ramirez Leal.

In a virtual meeting, he showed graphics where he explained that the crisis caused by the COVID-19 pandemic resulted in a -18% fall in Mexico, but waiting to raise it to 3% the next year.

"Last year we closed with -5.2%, the country experienced a very important change in the political regime that was being followed and these conditions established new rules and generated a stagnation in both public and private investment," he mentioned.

However, he said the outlook looks much better for next year, since the last few months have seen great progress in both GDP growth and job recovery related to the construction industry.

Source: Expreso