AFTER 10 consecutive quarters of growth, the construction sector staged a recovery in 4Q06, chalking up 0.6% year-on-year (YoY) growth in real output. The momentum thereafter strengthened, to reach 4.8% YoY growth in the second quarter of this year.
We expect the momentum to continue, underpinned by accelerated Government development spending: Only 25.4% of the total development allocation for the Ninth Malaysia Plan (9MP) period spent as at mid-Aug 2007, implying that spending has been behind schedule.
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