Chile. According to data from the Chilean Chamber of Construction (CChC) during the month of May, the Monthly Index of Construction Activity (Imacon) increased by 1.6%, which represents a slight increase compared to the figure for the month of March, which only reached a growth of 0.2%, and 1.3% presented in April.
In the last 12 months this indicator shows an increase of only 0.1%, well below its historical level. In that sense, Javier Hurtado, manager of studies of the CchC, told local media that "the growth rate of sectoral activity remains practically stagnant below its historical average rate of 4.6% per year, consistent with the insufficient rotation of new investment projects in infrastructure, especially in the mining sector."
One of the determining factors for the fall in the annual construction index is a progressive decrease in the area authorized for building. In the month of May, for example, this area stood at 1.24 million square meters, while the average of the last four years has been around 1.36 million square meters.
Similarly, limits on access to credit make it difficult for construction and real estate companies to finance new works. "If this situation persists, there are no growth scenarios greater than those observed in recent months," concludes the CChC.
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