Portugal’s cement demand drops 26.9% in 2012

Cement consumption in Portugal fell by 26.9 per cent last year to lows not seen since 1973. According to a report released today by the Portuguese Federation of Construction Industry and Public Works (Fepicop), consumption last year reached 3.3Mt in 2012.

The industry body said the crisis in the construction sector has caused significant reductions in cement consumption, the number of workers and the licences for apartment buildings.

The unemployment figures reached 101,449 people by the end of November, an increase of 34.4 per cent when compared with the previous year and accounting for 15.9 per cent of the total number of registered unemployed.

In terms of new house permits, the first 11 months of 2012 saw a drop of 30.2 per cent to 10,511.

The Portuguese construction is one of the hardest hit by the worst economic crisis facing the country and building companies accounted for 28 per cent of all bankruptcies, leading the filings in 2012.

The country also faces a severe adjustment programme to meet the loan agreements of EUR78bn granted by the IMF and the EU.