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Construction investment confidence in Brazil growing
14/12/2011
Confidence in Brazil’s construction sector has shown a significant rise between October and November this year, according to new figures from the central bank.
The Index of Construction Sector Confidence rose to 125.2 in November from 123.7 in October. Any figure over 100 indicates expansion and the rise has been the first in seven months.
The index is a joint piece of industry research carried out by the Gertulio Vargas Foundation in cooperation with the central bank. The central bank’s economic policy director, Carlos Hamilton, told a press conference in Brazilia this week that an accurate measure of the potential for the nation’s construction industry was crucial.
He explained that the sector accounts for 5 per cent of the entire national economy, employing 4 per cent of the national workforce. Civil construction has shown particular strength in recent months, accounting for 16 per cent of all recruitment carried out in Brazil in 2011 to October.
The figure for November was down 7.8 per cent on the same month from 2010, but economic analysts have said that the fall is due to a stabilising of the exceptional and potentially unsustainable growth rate that Brazil was experiencing last year.
The Index of Construction Sector Confidence rose to 125.2 in November from 123.7 in October. Any figure over 100 indicates expansion and the rise has been the first in seven months.
The index is a joint piece of industry research carried out by the Gertulio Vargas Foundation in cooperation with the central bank. The central bank’s economic policy director, Carlos Hamilton, told a press conference in Brazilia this week that an accurate measure of the potential for the nation’s construction industry was crucial.
He explained that the sector accounts for 5 per cent of the entire national economy, employing 4 per cent of the national workforce. Civil construction has shown particular strength in recent months, accounting for 16 per cent of all recruitment carried out in Brazil in 2011 to October.
The figure for November was down 7.8 per cent on the same month from 2010, but economic analysts have said that the fall is due to a stabilising of the exceptional and potentially unsustainable growth rate that Brazil was experiencing last year.
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