South Korea Infrastructure Report Q2 2014
BMI View: The South Korean construction sector continued to recover strongly in Q313, due primarily to asurge in activity in the residential building sector. However, we still believe that growth will decelerate over 2014 - with our construction real growth forecast at just 1.1% for 2014. This is primarily because of ou rdownbeat outlook towards all of South Korea's construction sector drivers - namely, weak macrofundamentals for residential buildings, a poor export outlook for non-residential buildings and decliningg overnment spending on infrastructure.