Recently Released Market Study: South Korea Infrastructure Report Q3 2014
The South Korean construction sector has exhibited signs of a growth deceleration in Q413 and we believe this slowdown will continue into 2014 - we are forecasting construction real growth forecast at just 0.5% for 2014, compared to 3.6% in 2013. This is primarily because of our downbeat outlook towards all of South Korea's construction sector drivers - namely, weak macro fundamentals for residential buildings, a poor export outlook for non-residential buildings and declining government spending on infrastructure.
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