BMI View: Following a contraction of -3.5% in the construction industry in 2012, we have downgraded our forecast for 2013 to -2.7%. After a major contraction of -17.9% in 2010, the rate of decline in the sector is slowly easing; however, the industry remains in recession, with negative growth recorded in Q1 2013, suggesting a negative outcome for the industry again this year. However, we believe that the worst could now be over. Signs of growth are expected in the transport sector from 2014, when we forecast positive growth of 1.6%, mostly driven by roads projects. This leads us to …
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