ARGENTINA – In February-March of the current year, the recovery process of supplies shipments for the construction industry continued. In February, the Synthetic Indicator of Construction Activity (ISAC) had a monthly improvement of 8.3% seasonally adjusted, explained by higher shipments of almost all the inputs included.

The recovery was greater than the Construya Index (CI, + 5.3% monthly), as those related to public works (asphalt, bulk cement) were among the most dynamic.

Also, in March, the seasonally adjusted Construya Index recorded the third consecutive rise, which reached 9.6% (the highest of the three). For the time being, the shipments of materials rallied the rise in interest rates observed in the last forty-five days.

Meanwhile, the statistics of the IERIC (Construction Industry Statistics Institute) indicated a slight improvement in the number of formal jobs occupied in construction between December 2018 and January 2019.

Regarding the outlook for private works, February 2019 again observed a recovery of the authorized surface (new + extensions) in the 60 municipalities measured by the INDEC.

The total authorized area reached 702.7 thousand square meters, standing 36.6% above February 2018. In absolute terms, 188.1 thousand square more meters were approved than in February of last year.