surprising growth in construction sector driven by more private residential projects in Q1

Singapore 14 Apr 2015
surprising growth in construction sector driven by more private residential projects in Q1

The construction sector was the star performer in today’s lacklustre Q1 GDP print, after posting an unexpected 13.8% quarter-on-quarter surge in the first three months of the year.

The Ministry of Trade and Industry (MTI) noted that the growth was driven by a pick-up in private sector construction activities.

However, DBS warned that in spite of the upside surprise, policy curbs will continue to weigh on the sector in the near-term.

“The cooling of the property market as well as the foreign manpower curbs put in place over the past few years will remain key challenges for this sector,” DBS noted.

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