HONG KONG, March 4, 2011 /PRNewswire-Asia/ -- Recent PMI surveys suggest a modest slowdown in the Chinese economy; the HSBC/ Markit manufacturing survey eased from 54.5 in January to 51.7 in February, representing a 7 month low (where any reading above 50 marks expansion). This reading suggests that growth may have peaked, and RICS now expect a continuing slowing trend in the sector from Q2 onwards.
UK construction industry not yet out of trouble
Data on construction output for January is due to be released on Friday 11th. The fourth quarter number, in aggregate, showed a drop in output of 2.5% compared with the previous three month period; the December figure was particularly depressed by the unusually poor weather experienced during the final weeks of last year.
European housing recovery to continue, but risks remain
Looking forward, RICS's central forecast is for the recovery in prices to continue across the bulk of European housing markets, albeit unevenly. However, the risks to their central forecast are increasingly skewed towards the downside.
Canadian economic recovery faster than anticipated
In the statement released following the Bank of Canada's monetary policy meeting in February, Bank of Canada officials noted that the Canadian recovery is proceeding faster than anticipated.
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