Building And Construction In Asia Pacific > Thailand > Thailand
Total construction work done (in nominal terms) rose 4.7% y/y in Q2, largely driven by civil engineering projects. Growth is expected to taper from here, as more construction sites were put under quarantine due to a rising cluster of COVID-19 infections. As a result, we have revised down our total activity forecast in 2021 to 2.9% from 3.2%. We expect activity to pick up in 2022 (+8.3%), followed by growth at around 6.6% pa over the three years to 2025.
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