Residential Construction Up

According to the Indicador de Inversión Fija Bruta (Gross Fixed Investment Indicator), Mexico’s residential construction sector grew 4.4 percent during the past year, exceeding national indicators of growth in construction and the economy as a whole.

In last month’s report, the Comisión Nacional de Vivienda (National Housing Commission) noted that this segment exhibited outstanding performance within Mexico’s macroeconomy and fueled growth in other sectors of construction. According to the agency, this has stimulated job creation, with an increase of 2.9 percent during the first two months of 2017, compared to last year, representing 43,800 new workers in the industry.

During his closing speech at the eighth annual meeting of the Jalisco section of CANADEVI (the National Chamber of Housing Development and Promotion), Governor Jorge Aristóteles Sandoval announced that this sector represents almost 9 percent of the state’s GDP.

“According to the latest data from INEGI, this industry has shown greater growth in Jalisco than in the rest of the country. Last year it benefited 228,000 residents, with the construction of 60,000 homes.” —Jorge Aristóteles Sandoval, governor of Jalisco.