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 Salvadoran Chamber of Construction Industries (CASALCO), the outlook for this year will be further complicated by political instability and an increasingly difficult access to credit. "We are seeing the first negative signs in the economy, and the sector sees a troubled future. We don't know how much it will affect us, because the phenomenom in the United States is not measurable yet" said Ismael Nolasco, executive director of CASALCO.

More on this topic

Salvadoran Economy Stagnant

October 2012

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.

Carlos Acevedo, president of the Central Reserve Bank of El Salvador, spoke with the newspaper La Prensa Grafica on the prospects for economic growth in the country.

Economic growth perspectives weakening as recovery slows

September 2011

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.

Growth remains strong in most emerging economies, albeit at a more moderate pace.

The Cultural Background to the Financial Crisis

August 2011

Economics, like politics, echoes and reflects the culture and values prevailing in each society.

There are a number of European countries facing serious financial difficulties as a result of the mismanagement of public finances. The situation is serious, and the globalization of financial markets threatens to spread these difficulties worldwide.

Recession Extends Itself in Costa Rica

April 2009

The monthly index of economic activity for February fell by 5.1% compared to February 2008, the fifth consecutive month of inter-annual contraction.

Among the sectors leading the decline are manufacturing with an accumulated contraction of 17.3% since November 2007, hotels with 8.7% since February of last year and agriculture, forestry and fisheries with 5.2% since June of last year.

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