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Economic news

Keywords: Economy, Housing, Construction

The RICS Economic Brief for September 2002 reports that growth has slowed markedly but that the outlook for near-term growth is good despite increased signs of global economic weakness. Occupier demand for commercial property remains weak and construction activity slowed in the second quarter of the year(expenditure on government projects is growing, however). Investor demand for residential property remains high and house price inflation in many areas is being driven by a shortage of homes for sale.