Singapore construction sector plummets by 8.4% in 2017

Singapore construction sector plummets by 8.4% in 2017

Weakness in construction demand will impede the sector’s growth in 2018.

The construction sector shrank by 8.4% in 2017, the only industry that registered negative growth.

The low output was caused by 29.1% decline in the private residential and private industrial construction works in the past year.

For 2018, the Ministry of Trade and Industry forecasted that the performance of the construction sector is likely to remain lacklustre due to the weakness in construction demand particularly from the private sector.

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