Construction sector in El Salvador becomes stagnant
The decline in credit is affecting both the execution of projects and home sales, resulting in a stagnation for this sector.
Tuesday, October 7, 2008
The optimism that the construction sector could achieve acceptable growth, present until last March, has vanished. The US economic crisis and its related effects have already begun to impact this sector of the economy.
According to the BCR, 2012 closed with economic growth of between 1.3% and 1.6%, having been affected by the bad international situation and domestic problems.
The monthly index of economic activity for February fell by 5.1% compared to February 2008, the fifth consecutive month of inter-annual contraction.
Economics, like politics, echoes and reflects the culture and values prevailing in each society.
Economic recovery appears to have come close to a halt in the major industrialised economies, with falling household and business confidence affecting both world trade and employment, according to new analysis from the OECD.
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