Despite negative rates registered last year, Peru's construction sector will experience a recovery in 2016 and increase by 1.96%, private-run Peruvian Chamber of Construction (Capeco) projected on Thursday.
Growth will be driven by Real Estate activity expansion and greater dynamism in public investment at the national level.
According to the 7th Economic Construction Report (IEC), sector’s entrepreneurs expect a 2.88% growth; suppliers project a 2.13% expansion whereas construction companies see a 0.83% increase ahead.
"Peru’s Central Bank (BCR) revealed the construction sector's GDP will expand by 3% this year. However, we consider the rate will be closer to 2%," Capeco's Executive Director Guido Valdivia indicated.
It must be noted the construction sector accounts for 5.1% of GDP being one of the Peruvian economy's main engines, which poses a significant multiplier effect on the productive activity.
Visible recovery
Public infrastructure and the Real Estate sector experienced declines last year. However, both activities will see recovery in 2016, Valdivia underlined.
(END) RGP/JJN/HMC/MVB
Published: 2/11/2016