Argentina's construction sector grew 0.9% in September 2025 compared to August, according to INDEC data. This marks a 6.8% year-on-year increase and a 7.8% cumulative rise in the first nine months of the year. Yet, business expectations indicate unfavorable variations for the year's end.
The National Institute of Statistics and Censuses (INDEC) reported that construction activity, measured by the Synthetic Indicator of Construction Activity (ISAC), grew 0.9% in September 2025 compared to August. This desestacionalized figure shows improvement after a 0.4% rise in August and a 0.9% drop in July, marking a bimonthly positive balance.
Year-on-year, the sector increased 6.8% from September 2024, with a cumulative 7.8% in the first nine months of 2025. Inputs showed mixed variations: interannual rises of 42.9% in granitic and calcareous mosaics, 42.0% in ceramic sanitary ware, and 27.1% in asphalt, among others. However, there were declines in ceramic floors and coatings (-7.6%), gypsum (-4.8%), and hollow bricks (-4.3%). Annually accumulated, asphalt led with 53.8% growth.
In registered employment, August 2025 saw a 3.3% increase versus the same month in 2024, adding 12,270 formal jobs. However, from January to September, personnel numbers fell 0.6% year-on-year.
INDEC's qualitative survey of large firms revealed disparate expectations for October-December. For private works, 67.0% foresee stability, 23.3% a decline due to economic slowdown (30.6%) and high costs (21.7%), and 9.7% growth. For public works, 64.5% expect no change, 22.2% a drop from payment delays (31.6%), and 13.3% an uptick. On employment, most anticipate stability, with some forecasting reductions.
Gerardo Fernández, referring to construction SMEs, stated: “Las pymes constructoras están sobreviviendo consumiendo su propio capital”. Meanwhile, another report notes that industry recorded declines in September, contrasting with construction's advance.