The pace of growth of Mexico’s construction industry may have dived in the fourth quarter lat year, but the Mexican Construction Industry Chamber (CMIC) is feeling guardedly optimistic about the sector’s prospects going forward.
Mexico’s construction industry is among the country’s largest industries by value, contributing close to 7% of national GDP through mid-2012. With an estimated value of US$83 billion in 2011, the sector is the sixth largest by contribution to GDP. The industry was hit hard by the 2008-2009 recession and did not fully return to growth until late 2010. After a period of fairly robust growth through 2011 and into early 2012, the pace of expansion slowed in the second half. Read the rest of this entry »