Construction activity across 12 Asian countries – Singapore, the Philippines, Vietnam, Indonesia, India, Taiwan, Thailand, Malaysia, Hong Kong, China, South Korea and Japan – is now projected to increase by a mere 2%, bringing average growth to 6% year-on-year until 2024. This is the weakest pace of increase since 2015.
SINGAPORE (Aug 27): Singapore is expected to suffer the brunt of “collateral damage” as construction activity in Asia shrinks due to ongoing US-China trade tensions, according to BIS Oxford Economics.
Economist April Skinner notes that businesses are increasingly reluctant to invest as the region loses its direct connections to China.
