On the negative side, the Euro zone construction industry showed its sharpest decline in several months in October.
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This has had a predictably negative impact on activity and employment in the construction sector.
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The negative data hurt shares in Japan's construction equipment makers and sent the benchmark Nikkei 225 index down 1.44%, to close at 13, 017.24.
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In the third quarter, we expect a sharper decline in residential investment (perhaps -15% annualized), causing a negative contribution that outweighs the growth from commercial construction.
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The RICS Construction Market Survey said 2013 was the "least negative start to the year" since 2008.
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