Price: $ 1295
BMI View: The lack of growth in Q213 supports our view that the recovery in Taiwan's construction activity could be mild. As such, we are maintaining our forecasts for construction real growth at 2.0% for 2013 and 2.9% for 2014. This is primarily due to our expectations of a steep economic slowdown in China, Taiwan's main trading partner, over the near-term. Over the long-term, we expect Taiwan's construction sector to outperform its 10-year historical average, though we remain concerned about the country's demographic profile and its lack of progress in achieving greater innovation in the tech sector and greater economic integration with China. Key developments that will affect growth include: ? In June 2013, the government of the Taiwanese city of Greater Kaohsiung outlined the constructio ...
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