The negative result was driven by the contraction in cement consumption, which fell -14.7 in the first month of the year.
He construction sector It would have experienced a contraction of -11.9% in January of this year, the biggest setback since July 2020, when it fell by -12.8%, estimates the Peruvian Chamber of Construction (Capeco).
The business association indicates that the negative result for the first month of the year is explained by the sharp drop in cement consumption, which contracted by -14.7%. This despite the fact that public works made significant progress in percentage terms (+16.5%), due to the fact that the execution in January 2022 was minimal.
“In January, the fall in the price of cement has been in double digits. This is an estimate, but the data we have is very compelling (…). Cement accounts for 72% of the weight of the gross domestic construction product”says Guido Valdivia, executive director of Capeco.
For the union, these figures indicate that private construction would be the most affected. Indeed, the companies in the sector interviewed for Capeco’s Construction Economic Report No. 62 have reported a 3.7% decrease in its operating levels during the first two months of this year. This trend has been registered in the three segments of construction activity: -4.8% in infrastructure, -4.3% in real estate and -1.9% in suppliers.
“For the second two-month period, a rise of just 0.2% on average is expected, with a drop of 3.7% expected in the real estate segment, while an increase of more than 2% is projected in the other two,” says Valdivia. .
Mortgage loans fell in 2022
On the other hand, Capeco reports that During 2022, 39,895 were granted mortgage loanswhich meant a contraction of 19.4% compared to 2021. However, while the loans disbursed by financial institutions with their lines of credit fell by 28.0%, those of the Mivivienda Fund increased by 4.9%.
In addition, the average credit of the operations financed by Mivivienda stood at S/166,270, higher by 19.5% compared to the previous annual period.
“It is important to note that the Mivivienda Fund reached a 33.9% share of the total mortgage operations disbursed in 2022 and 17.1% of the total amount granted for said operations. In 2018, these proportions were 20.9% and 8.7%, respectively, which reflects the dynamism that credit for social housing has achieved in the last five years”, details the executive director of Capeco.
Source: Larepublica
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