Latin Trade Construction Index
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13th February 2015

The construction industry in Latin America grew by an average of 2.4 per cent year on year in the third quarter of 2014, signaling a cooling of the sector when compared with the 5.9 per cent year on year growth posted in the same period in 2013, according to Latin Trade’s most recent Construction Index
The trend was driven by changing dynamics in countries such as Panama and Colombia, where the activity remained strong, but lost momentum. In Panama, the index rose by 16 per cent in the third quarter, a healthy rate and the highest in the region, although still half its level from a year before. This is mainly due to a reduction in jobs, as several megaprojects such as the subway line in Panama City were completed earlier in 2014. Similarly, the sector’s 12.7 per cent growth in Colombia was one of the strongest in the region, however it also shows base effects related to a slowdown in public projects, which had soared in the latter part of 2013.
The deceleration of GDP growth in Chile and Brazil help to explain the declines of 0.5 and 5.3 per cent in Latin Trade’s Index for these two nations over the period. Chilean construction began to register negative growth in June, in hand with faltering demand for new projects, whereas in Brazil the sector has been hampered since the start of last year by pessimism and credit restrictions, as well as the completion of infrastructure works associated with the FIFA World Cup celebrated in mid-2014.
An adverse …

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