The GDP of civil construction in Minas Gerais fell 3.7% in the first quarter of 2026, while Brazil recorded a 1.3% rise. Employment in the sector also declined in the state.
The performance was below that recorded in the fourth quarter of 2025, when Minas Gerais posted a 0.2% drop and Brazil advanced 2.9%. The number of people employed in civil construction in Minas Gerais decreased 2.4% in the first quarter of 2026 compared with the same period last year.
FIEMG chief economist João Gabriel Pio attributed the loss of momentum to the combination of expensive credit, high financing costs and low confidence levels, which restrict private investments.
Despite the negative outlook, sales of construction materials in Minas Gerais grew 8.7% in March 2026 year-over-year. Real estate financing reached R$ 21.8 billion in April, the highest volume for the month in the historical series. The expectation is that the sector will end 2026 near stability.
