Previous Story
The construction sector suffers a higher slump than that suffered in 2016
Posted On 08 May 2017
Construction has declined, and therefore sales of materials decreased by 80%, according to owners of hardware stores that are located along the Machala Avenue.
“The current situation of the guild is very difficult,” they say. The bricks have not been re-stacked for use. In March of this year, the volume of construction fell by 12.3%, compared with the previous month.
According to the Monthly Survey of Business Opinion, issued by the Central Bank of Ecuador (BCE), to understand the state of the sector, it is enough to see the plummet recorded in March 2016 (5.3%). These figures are qualitative, they reflect the perception of entrepreneurs surveyed by the BCE.
But, the numbers turn into faces when talking with the owners of hardware stores. They report that sales in the sector have plummeted by 80%. An example of this is HarolSegura, who has 30 years in the business. He says sometimes he does not manage to get $ 650 to pay the rent, and has been forced to make loans to Colombian loan sharks. “Given the situation, I’m only paying the interest,” he explains.
