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1Clear out junk files and repair common Windows errors2Fix the driver behind crashes, sound loss and screen glitches3Repair Windows errors before they cause bigger problemsFor a sector-versus-market comparison, use the S&P/BYMA Argentina General Construction Index alongside either the S&P MERVAL or the broader S&P/BYMA Argentina General, matching dates, return type, currency and geography. The construction index tracks construction-related listed shares—not building costs. For residential construction-cost changes in Greater Buenos Aires, use INDEC’s separate ICC-GBA instead.
What is Argentina’s construction index?
In an equity-market comparison, “Argentina’s construction index” most likely means the S&P/BYMA Argentina General Construction Index, which BYMA also calls S&P/BYMA Construcción. It measures qualifying construction-related shares within the S&P/BYMA Argentina General.
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The index is float-adjusted market-capitalization weighted. Its eligible GICS sub-industries are Construction Materials, Forest Products, Building Products, Construction & Engineering, and Homebuilding. Its calculation currency is ARS. S&P DJI lists distinct price-return and total-return variants, so identify which one you use.
The index launched on 7 October 2019; its first value date is 11 January 2019. A value date before launch does not establish a live track record. S&P DJI warns that performance before an index’s launch is hypothetical back-tested performance and actual returns may differ significantly. See its index methodology and disclosure before treating earlier history as realized performance.
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How does the construction index compare with the Merval and Argentina General?
These benchmarks answer different equity-market questions: sector performance, large liquid domestic shares, or a wider set of eligible local shares.
| Benchmark | What it measures | Selection and weighting | Useful comparison |
|---|---|---|---|
| S&P/BYMA Argentina General Construction | Construction-related equities within Argentina General | Qualifying constituents in specified construction GICS sub-industries; float-adjusted market-cap weighted | How the construction-related sector performed relative to a broader domestic equity benchmark |
| S&P MERVAL | Argentina’s flagship index of larger, more liquid BYMA-traded domestic stocks | Minimum size and liquidity conditions; float-adjusted market-cap weighted, with a 15% individual-stock cap | How construction shares performed relative to a large, liquid domestic-stock benchmark |
| S&P/BYMA Argentina General | A broader benchmark for eligible domestic shares listed on BYMA | Domestic stocks traded on at least 20% of trading days in the prior 12 months; float-adjusted market-cap weighted | How construction shares performed relative to a wider eligible local-share universe |
S&P DJI describes the Merval as seeking to measure “the performance of the largest, most liquid stocks trading on the Bolsas y Mercados Argentinos Exchange (BYMA) classified as domestic stocks.” The S&P MERVAL page and the S&P/BYMA methodology set out the respective benchmark rules.
The construction index is narrower and may be concentrated. A S&P DJI snapshot dated around 31 August/14 September 2026 showed six constituents and a largest-constituent weight of 82.5%. These are dated snapshot characteristics, not permanent index rules; check the current factsheet before relying on them.
Does the construction index measure construction costs or construction stocks?
It measures listed-company shares. It does not measure the price of materials, wages, or the cost of building a home. For those costs, the relevant official measure here is INDEC’s Índice del costo de la construcción en el Gran Buenos Aires (ICC-GBA), which covers private residential building in the City of Buenos Aires and 24 surrounding partidos. It includes materials, labor, and general expenses; it does not represent every Argentine province. INDEC describes its ICC-GBA scope separately from equity-market benchmarks.
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Latest ICC-GBA reading available on 7 October 2026
INDEC’s release dated 16 September 2026 reported that the overall ICC-GBA level rose 2.5% month over month in August 2026. Materials rose 1.7%, labor 3.2%, and general expenses 2.2% over that month. These are one-month changes in Greater Buenos Aires residential construction costs, not national equity returns or full-year changes. The figures are from INDEC’s ICC-GBA releases.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.How to compare the indices fairly
- Choose the question first. To compare sector equities with the market, compare the construction index with Merval or Argentina General. To track defined residential building costs, use ICC-GBA as a separate cost measure.
- Use the same start and end dates. Label the horizon—monthly, year to date, one year, or multi-year—and include the index data’s “as of” date. Factsheet returns are time-sensitive snapshots.
- Match return variants. Compare price return with price return or total return with total return. Do not silently compare a price-only series with one that includes total returns.
- State currency and geography. The construction index is calculated in ARS. ICC-GBA is scoped to Greater Buenos Aires. Do not imply the latter covers all of Argentina or compare its monthly cost change directly with an equity return without explaining the different units and measures.
- Check concentration and coverage. A sector index may contain fewer companies and be more exposed to one constituent than a broad benchmark. Verify current constituents and weights rather than assuming a dated snapshot still applies.
- Identify live versus back-tested history. Mark any pre-launch performance as hypothetical where applicable; do not present it as realized investment history.
For readers who need underlying BYMA prices, volumes, and related market data, BYMA describes access through FIX and API services on its market-data page. Data access is distinct from an index’s methodology and does not by itself make two return series comparable.
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