Just Released: "Hong Kong Infrastructure Report Q3 2013"
As expected, construction activity in Hong Kong has decelerated, registering a low 1% y-o-y growth in Q113. We believe this is due to high-base effects, a near-term decline in the project pipeline and the potential for a steep slowdown in China's economic activity. As such, we maintain our view that construction growth in 2013 is unlikely to surpass previous highs, and will be lower than 2012. We are forecasting construction real growth in Hong Kong to decelerate from 11.3% in...
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