There is concern in the workplace after a latest report was released that reveals that the recession was greater than expected in the first quarter of the year. The percentages show a drop of more than 30% in construction and questions arise about what will happen to employment.
Before a paralysis in construction and industrya, during the first three months of 2024, a recession was recorded that had not been seen since the 2001 crisis. According to the recent INDEC report, construction collapsed by 42.2% compared to the same month in 2023 and in the first quarter it fell 30.3%; Added to this was that The industry fell by 21.2% in the same period, and accumulates a decrease of 14.8%.
Another piece of information that generated concern is that in March, the industry also fell 6.3% compared to February, which indicates that the recession does not end. Regarding construction, the index showed a negative variation of 14.2% between March and February.
The percentages in industry and construction
During the month of March the sixteen divisions of The manufacturing industry showed year-on-year declines. Food and beverages: -14.2%; Machinery and equipment: -37.9%; Basic metal industries: -34.0%; and Non-metallic mineral products: -35.8%.
For your part construction input consumption data In March, they had losses of 69.2% in asphalt; 54.3% in round iron and steel for construction; 53.8% in plasterboard; 46.6% in plaster; 46.1% in manufactured concrete; 43.7% in hollow bricks and 43.1% in Portland cement.
More than 50% of companies that carry out private works predict that the level of activity in the sector will not change during the next three months, while 39% estimate that it will decrease and the rest that it will increase.
For their part, companies dedicated to public works, the vast majority believed that the level of activity will fall during April-June 2024, while 29.7% believe that it will not change and the rest that it will grow.
with information from Noticias Argentinas
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