The value of works of the construction industry, one of the largest consumers of steel, in Mexico registered what could be a historical record amount in May with MXN 52.3 billion, which at today's exchange rate is $3.0 billion, according to a SteelOrbis analysis of data from the national statistics agency Inegi.
The information is in nominal pesos (without adjustment to eliminate inflation). In real terms, the increase was 19.0 percent.
In May, the five largest construction economies in Mexico were: Quintana Roo (8.8 percent of the total), Nuevo León (7.9 percent), Jalisco (7.4 percent), Campeche (7.3 percent) and Tabasco (6.1 percent).
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 551 percent and Campeche with an increase of 284 percent. Those 19 states contribute 63.2 percent of the total value.
In contrast, in 13 states it decreased, Mexico City and Zacatecas stood out with drops of more than 30 percent. Mexico City, the largest consumer market in Mexico, lost 3.7 percentage points of market share to 4.3 percent.
The construction industry contributes 6.0 percent of Mexico's total GDP (MXN 1.59 trillion).