Boston, MA -- (SBWIRE) -- 05/01/2014 -- We do not expect a significant improvement in construction growth in 2014. This is because we expect several factors that dampened construction activity in 2013 - namely, a near-term decline in the project pipeline and a slowdown in China's economic activity - to grow in prominence in 2014. However, we reiterate this does not translate to a dearth in growth opportunities in the city over the long term as the government has a large number of construction projects planned in future.
Key Trends And Developments
- We remain optimistic about Hong Kong's residential and non-residential building construction sector over the medium term (2014-2018), even though we are forecasting building real growth to experience anaemic growth in 2013 (1.0%) and 2014 (0.9%). We are forecasting real growth for Hong Kong's residential and non-residential building sector to experience growth of around 1.0% per annum between 2014 and 2018.
- We are forecasting full-year real growth for Hong Kong's construction sector to reach 2.2% in 2014, compared with 1.5% in 2013.
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