Chile sees construction recovering in second half

Chile sees construction recovering in second half
Published: 10 September 2010

Finance Minister Felipe Larrain on Thursday said he expects the construction sector to recover in the third and fourth quarters as Chile rebuilds cities ravaged by a massive Feburary 27 earthquake.

The central bank has raised its view of economic growth for 2010 to between 5.0 and 5.5 per cent and pointed to construction as a driver in the wake of the quake.

The government and businesses are spending billions of dollars to rebuild cities and key industries such as forestry and oil refining ravaged by the quake that hit south-central Chile.