With information from the National Institute of Statistics and Geography (INEGI), it was revealed that investment in construction grew in January at an annual rate of 20.8%, which is the same range that accumulated throughout the year 2023, considering monthly figures, it presented a advance of 0.3%.

Banorte indicated that two components present in 2023 will be maintained during half of 2024, which are the budgeted spending for government projects and the presence of investment in the construction of industrial spaces.

Of interest: Industrial demand in Ciudad Juárez shows signs of recovery

In this regard, the Cost Engineering Study Center of the Mexican Chamber of the Construction Industry (CMIC) assured that the cost of labor for a 90m2 home is $127.3 thousand (2023: $120.1 thousand; +6% a/a).

On the contrary, the expectation for the industrial sector is more positive, with support from both private investment (fully associated with the demand for industrial spaces) and public investment (with a view to completing flagship infrastructure projects).

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Second, the appreciation of the Mexican peso could have a net positive effect. According to the CMIC, 60% of the sector's inputs are imported, with the US being the main supplier (50 percent).”

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Original note.