Peru's construction sector will see a rebound in 2017, following two years of contraction, private-run Peruvian Chamber of Construction (Capeco) Executive Director Guido Valdivia informed Monday.
"We have experienced two years of sharp decline, thus accumulating a 10% drop in this two-year period, but in 2017, growth is likely to exceed 1%, and this is good news," he expressed.
According to Central Reserve Bank (BCR) statistics, the
construction sector slid 5.81% and 3.14% in 2015 and 2016, respectively.
"The first five months of this year were really bad. An
expansion process began in June. In
October, the sector expanded nearly 15%, which leads us to think the sector will increase by the end of the year, although not at the levels we expected," Valdivia pointed out.
In its latest inflation report, BCR revised its 2017 construction sector growth forecast upwards from 0.9% to 3.5%.
Factors
Likewise, Valdivia highlighted the sector will continue to expand in 2018, supported by greater investment and public works, as well as a housing market recovery.
It must be noted BCR forecasts construction will increase 8.9% next year and 9.5% in 2019.
(END) MDV/JJN/JAA/RMB
Published: 12/18/2017