Forecast: Specialized Construction Activities Output in Mexico

The output of specialized construction activities in Mexico has exhibited varied growth patterns over the past decade. From 2013 through 2023, the data demonstrates a notable overall upward trajectory with some fluctuations. Noteworthy dips occurred in 2019 and 2020, corresponding to diminished year-on-year changes of -6.38% and -8.09%, respectively. However, resilience was observed from 2021 onwards, with a robust rebound peaking with a 27.99% increase in 2021 and subsequent strong growth rates.

By 2023, the output stood at 444.22 billion Mexican Pesos, reflecting a year-on-year increase of 6.6%. The compound annual growth rate (CAGR) over the last five years was 7.61%, indicating sustained expansion.

As we forecast into the future from 2024 onwards, the growth outlook remains positive albeit at a moderated pace. The projected CAGR over the next five years is 4.19%, suggesting a more stabilized growth pattern. The forecasted cumulative growth rate until 2028 is anticipated to be 22.76%, heralding continued sectoral expansion, although at a slightly decelerated rate compared to historical performance.

Future Trends to Watch For:

• Impact of government infrastructure investment policies
• Technological advancements and their adoption in construction processes
• Economic stability and exchange rates affecting construction costs and investments
• Global supply chain dynamics and material cost fluctuations