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Construction value in Mexico declines to 3.3 percent as index sector drops



By Mary Vega
01 December 2008 @ 12:00 pm ET

Mexico City - The value of production generated by constructor companies in Mexico plunged to a 3.3 percent annual rate in September , according to a survey from the National Institute of Statistical and Geographic Information (INEGI).

Quotes
CX 9.61 0.27

On the Mexican stock Exchange, the constructor sector index dropped 2.33 percent or 354.66 points to 14,856.13 points by 9:35 a.m. CST Monday. Shares of Cemex, the third largest constructor company in the world, were down 8.24 percent to $8.80 pesos ($0.6474 usd) a share in the Mexico Stock Exchange.

About 50.8 percent of the total value of construction companies building work was in residences, schools, buildings for the industry, commerce and services; hospitals and clinics, and recreation buildings. Roads for transportation, highways, tracks, subway and light rail represented 23 percent of the total construction value.

Construction works related to oil and petrochemicals represented 9.6 percent, according to the institute. The workforce showed a decline of 4.4 percent in September compared to the same month last year.

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