The value of works in the Mexican construction industry, one of the largest consumers of steel, registered a real increase, year-over-year, of 2.6 percent in March. It is the 24th consecutive increase, after 33 consecutive months of decline, according to a SteelOrbis analysis of data from national statistics agency Inegi.
In nominal pesos (without adjustment to eliminate inflation), the value of the works was MXN 49.47 billion (about $2.70 billion). The value of the works, in real terms, is below the level prior to the SARS-CoV-2 pandemic.
Nuevo León, the headquarters of Ternium, the largest manufacturer of flat and long steel in Latin America, is the largest construction economy in Mexico with 11.0 percent of the total. In March, the value of work increased 2.1 percent in the state.
Of the 32 states of the country, the value of the works increased in 19, of which Quintana Roo stood out with an increase of 267 percent and Oaxaca with an advance of 96.4 percent.
In contrast, in 13 states it decreased, Guanajuato, Tabasco, Zacatecas and the State of Mexico stood out with falls of 40.0 percent.