After 15 consecutive months of decline, Chilean construction activity again showed positive figures in March, according to a report released by the Chilean Chamber of Construction (CCHC), with a year-on-year increase of 1.4 percent recorded.
Commenting on the results, chamber president Constans Lorenzo said, "Since December 2008, when our industry began to show the effects of the international economic crisis, construction activity had not recorded year-on-year growth. The March figure is good news for everyone, since it confirms that business is recovering, which means more job creation."
The increase is explained partly by the positive effect due to cleaning up and collection of debris after the earthquake of February 27 and due to road reconstruction activities. Another reason is the base effect due to the sharp falls experienced in the same month last year.
"The effects of economic packages which have been implemented or are on track to be implemented to cover damage caused by the earthquake are yet to be seen. We are looking forward to seeing the sector's recovery process in the short and medium term, particularly the performance of private housing investment," Mr. Lorenzo concluded.