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Uruguay Construction
Activity in the construction industry fluctuated
dramatically
during the 1980s, appearing to be markedly affected by
trends in
GDP growth or contraction, but with a one- or two-year
lag. One
index of such activity, the quantity of private structures
built,
went from about 2.1 million square meters per year in
1980-81
(when the recession was beginning) to 500,000 square
meters per
year in 1985-86 (after the recession had ended). In the
late
1980s, construction partially recovered. The industry
achieved a
4 percent growth in 1988 because of a construction boom in
Maldonado and Punta del Este, and it grew 11.7 percent in
1989.
Continued moderate growth was expected because of
infrastructure
projects such as the modernization of ports and highways,
to be
financed by international organizations. An offsetting
factor,
however, was the government's need to reduce expenditures.
Data as of December 1990
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