Construction sector decreased 23.5% per year

For the fifth consecutive month the construction sector deteriorated; The value of companies in that industry retreated 2.9 percent from October to November 2024, the National Institute of Statistics and Geography (INEGI) reported.

According to the National Survey of Construction Companies (ENEC), the penultimate month of last year, the negative behavior was also observed in its annual variation, falling 23.5 percent, the most pronounced decrease since June 2020 and maintains a tendency to the decline since July 2023.

November is the second largest fall after the one reported in September, 5.2 percent.

The personnel employed in the construction decreased 3.0 percent against October due to a drop in hiring that depend directly on the corporate name.

However, those that are hired under subcontracting schemes advanced 4.8 percent.

The hours worked backed 1.6 percent monthly, particularly due to the decrease of 2.0 percent associated with personnel who work directly in the construction companies.

Real average remuneration decreased 1.8 percent due to a 2.5 percent setback in salaries paid to workers.

In the annual variation, the number of employees by construction companies contracted 9.8 percent, a data that was explained by a 22.3 percent drop in the personnel that does not depend directly on the corporate name and a decrease of 10.6 in administrative workers, Accountants and Management.

Inside the measurement, the consciousness related to the public sector descended 47.6 percent, mainly due to the fact that the infrastructure works of the Government of Andrés Manuel López Obrador concluded and initiated a new administration.

The hours worked retreated 11.0 percent from October to November, especially due to a contraction of 31.9 percent regarding workers not directly hired by construction companies.

The real average remuneration fell 2.4 percent in November compared to the same 2023 period. The setback was explained by a 3.8 percent contraction in salaries paid to administrative, accounting and management employees.