The Central Bank ratifies the drop in the construction sector

Image: Expreso

In the first half of the year, the volume of construction in the country has fallen from 1.9% to 3%. Between January and July, April was the only month in which a slight recovery took place.

This were the figures the monthly survey of Business Opinion of the Central Bank of Ecuador (BCE for its Spanish acronym) confirmed.

According to the Guayaquill contractor Jose Coppiano, the cause is mainly that public works have fallen as much as the state budget. The pro forma has been reduced in January to $ 1,420 million and $ 800 million in August, as a result of the collapse in oil prices.

Private enterprise alone can not generate much work for the public sector. In its case, contracts have fallen by 90% and it is maintained with small works, mentioned Coppiano.

Labor demand in the sector has been declining since January every month; in July varied -3.7% in the previous month. However, according to the study, there are expectations that in August it recovers a little and falls less, and only marks a decrease of 0.9%.

It is estimated that the area directly employs about 500,000 people, according to the Chamber of Construction of Guayaquil. This would imply that in July 18,500 people found no job, according to BCE data.

Source: http://expreso.ec/expreso/plantillas/nota.aspx?idart=8355933&idcat=38229&tipo=2