Peru's construction sector expanded 7.84% in January 2018, thus showing a steady recovery due to greater public investment, Housing, Construction, and Sanitation Minister Carlos Bruce informed.
This result marks eight straight months of positive performance.
According to National Institute of Statistics and Informatics (INEI), said growth was mainly underpinned by higher
domestic cement consumption (+6.55%) and greater investment in public works (+27.60%).
Furthermore, the official underlined domestic cement consumption increase was partially driven by the construction of condominiums and multi-family buildings, as well as buildings in
mining units, office blocks, and shopping centers.
In this regard, Bruce also pointed out 7,400 people found
jobs in the
construction sector (+2.2%) in the period comprised between November 2017 and February 2018.
Said increase in employment responds to the implementation of public and private projects, such as the Pan American Village,
Lima Metro Line 2, multi-family buildings, and Mi Vivienda Verde project, as well as remodeling and
improvement works on tracks and sidewalks in several districts of Lima's Metropolitan Area.
Income
It must be noted the construction sector registered the highest growth rate (+5.1%) in average monthly income, followed by manufacturing (+3.9%) and services (+2.2%).
(END) CNA/JAA/MVB