New Market Report: Argentina Infrastructure Report Q1 2014
We maintain our view that Argentina's construction industry will remain in the red until 2015. After a sharp contraction in 2012, official data indicates negative growth at 0.5% in H113 and we expect this trend to continue in 2014. As such, we currently forecast -2.6% real growth for the industry in 2013 before it starts trending upwards at -0.2% in 2014. Our bearish near-term outlook for the sector is supported by the underlying weakness in the market, a result of...
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