Chile notes 12 per cent increase in construction activity

Chile’s monthly index of construction activity, Imacon, registered a 12 per cent YoY rise in August, surpassing the 0.72 per cent increase noted in July.

Javier Hurtado, director of studies of the Chilean Chamber of Construction (CCHC) said that the sector activity continues to show double-digit annual growth rates, in line with most of the indicator’s components (employment, demand for building supplies, building permits and general contractor activity).

The activity of general contractors exhibited a positive annual change for the sixth time and the hiring of labour noted a 2.2 per cent annual rise. The demand for building materials also increased, reflected in a 21.4 per cent YoY rise in supplier sales and a growth of 10.4 per cent in industrial shipments.

Moreover, building authorisations expanded 7.4 per cent in terms of area with the largest building permit applications for industrial, commercial and financial services more than offsetting the decline in the housing subsector.

Geographically-speaking, Antofagasta, Atacama, Maule, La Araucanía, Los Ríos and Magallanes recorded a construction activity growth of over 20 per cent in August when compared with the equivalent period last year, according to the Regional Construction Activity Index.