Thursday, 21 February 2013

Argentina Infrastructure Report Q2 2013


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Argentina Infrastructure Report Q2 2013
Feb 20th 2013, 00:00

BMI View: Our previously-held view that Argentina''s construction sector will decelerate rapidly is playingout, with a contraction of 1.9% estimated for 2012. We have downgraded our outlook for 2013, to reflect afurther deepening of the contraction, to -2.6% year-on-year. We believe the recession will last until 2014,when a contraction of 0.2% is anticipated.Leading indicators for building permits show consistent contractions, as the industry runs out of steamunder the pressure of heavy inflation, import restrictions, a funding squeeze and a slowing macro picture.The slump is being mainly driven by the impact of policies on the residential construction sector and fall...

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