Construction activity in Chile is gathering momentum, according to the latest figures from the Monthly Index of Construction Activity (IMACON), which show a 12-month increase of 2.9% in May 2018.
Reported by the Chilean Chamber of Construction, the index takes the year 2008 as a baseline, equal to 100. The May reading came to 124.3, up from 124.11 in April 2018.
The index has averaged 78.34 between April 1989 and May 2018, which includes 350 data points.
Sergio Torretti, president of the Chilean Chamber of Construction, said, “Although this is the seventh positive variation after 14 consecutive months of contractions, we would like to see that the good expectations that exist today are transformed into concrete investment projects, to boost the economy and accelerate the reactivation of our industry.”