Construction World February 2020

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H[HFXWLYHV VXUYH\HG GXULQJ WKH ͤUVW WKUHH ZHHNV RI 1RYHPEHU &RQͤGHQFH UHERXQGHG LQ WKUHH RI WKH ͤYH VHFWRUV PDNLQJ XS WKH BCI namely the building, manufacturing and retail trade. It declined in the new motor trade and remained essentially unchanged in the wholesale trade sector. • &RQͤGHQFH DPRQJ building contractors deteriorated from 30 WR LQ WKH WKLUG TXDUWHU EHIRUH ERXQFLQJ EDFN WR D VWLOO ORZ in the fourth quarter. Although residential activity recovered VRPHZKDW DIWHU WKUHH TXDUWHUV RI H[WUHPH ZHDNQHVV QRQ residential building activity remained ever so subdued. • $IWHU VOLSSLQJ IURP LQ WKH VHFRQG TXDUWHU WR LQ WKH WKLUG manufacturing FRQͤGHQFH LPSURYHG WR 'HVSLWH WKLV UHERXQG FRQͤGHQFH UHPDLQHG H[WUHPHO\ ORZ ZHLJKHG GRZQ E\ DPRQJ other factors, continued poor production output (spread out across a variety of sub-industries), and disappointingly ZHDN H[SRUW VDOHV • Although retail FRQͤGHQFH MXPSHG IURP WR LQ WKH IRXUWK TXDUWHU LW PHUHO\ FRXQWHUHG WKH LQGH[ SRLQW GURS RI WKH TXDUWHU EHIRUH ([FHSW IRU GXUDEOH FRQVXPHU JRRGV UHWDLO sales generally remained quite weak. However the imminent Black Friday and Christmas sales could change the fourth quarter outcome. • As for the two sectors that showed deteriorating sentiment,

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RMB Chief Economist, Ettienne le Roux.

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CONSTRUCTION WORLD FEBRUARY 2020