Recently Released Market Study: Japan Infrastructure Report Q4 2012
BMI View: Although the latest statistical data indicates an increase in construction activity in H112, reports from the ground indicate that the reconstruction effects are not taking place uniformly or at the same pace across Japan, with several factors (ie, radiation fears, slow debris clearance and concrete shortages) causing delays in rebuilding certain prefectures. Therefore, we believe that the reconstruction efforts could take place over a longer time-frame. As such, we have revised down our real growth construction forecasts for...
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