Manufacturing is, nevertheless, still prominent in the city's economy (16 percent) and, concentrated mainly in the southern part of the city. It benefits as much from high local purchasing power and a large local supply of skilled labor as it does from its relationship to massive agriculture and industry just outside the city limits. Construction activity in Buenos Aires has historically been among the most accurate indicators of national economic fortunes, and since 2006 around  of construction has been authorized annually. Meat, dairy, grain, tobacco, wool and leather products are processed or manufactured in the Buenos Aires metro area. Other leading industries are automobile manufacturing, oil refining, metalworking, machine-building, and the production of textiles, chemicals, clothing and beverages.