{
    "success": true,
    "data": {
        "id": 1221694,
        "msgid": "construction-sector-grows-by-10-next-year-analyst-1447893297",
        "date": "2002-11-01 00:00:00",
        "title": "Construction sector grows by 10% next year: Analyst",
        "author": null,
        "source": "JP",
        "tags": null,
        "topic": null,
        "summary": "Construction sector grows by 10% next year: Analyst A'an Suryana, The Jakarta Post, Jakarta The country's construction sector is expected to grow by between 9.5 percent to 10 percent next year on the back of strong domestic consumption, an analyst said Thursday. \"Greater economic growth next year would raise the public's purchasing power.",
        "content": "<p>Construction sector grows by 10% next year: Analyst<\/p>\n<p>A'an Suryana, The Jakarta Post, Jakarta<\/p>\n<p>The country's construction sector is expected to grow by<br>\nbetween 9.5 percent to 10 percent next year on the back of strong<br>\ndomestic consumption, an analyst said Thursday.<\/p>\n<p>\"Greater economic growth next year would raise the public's<br>\npurchasing power. The construction sector would benefit from<br>\nthis,\" Indonesian Contractors Association (AKI) chairman Sutjipto<br>\ntold reporters on the sidelines of a construction seminar held at<br>\nthe Hotel Kartika Chandra in Jakarta.<\/p>\n<p>The government initially predicted economic growth of five<br>\npercent, but, following the terrorist attack in Bali more than<br>\ntwo weeks ago, the projection was revised to four percent on<br>\nThursday.<\/p>\n<p>It is still higher than last year's growth of 3.5 percent.<br>\nGross domestic product (GDP) growth for this year has been<br>\npredicted at four percent, but many analysts say the actual<br>\nfigure could be lower.<\/p>\n<p>The construction sector recorded record growth of 14.86<br>\npercent in 1994. But, the sector contracted 36.46 percent in 1998<br>\nduring the peak of the economic crisis, when the country's<br>\neconomy shrank by 13.01 percent.<\/p>\n<p>AKI forecast the construction sector to grow 9.5 percent this<br>\nyear.<\/p>\n<p>Thor Kerr, a director of property consultant Building<br>\nConstruction Interchange (BCI), said Indonesia's market would<br>\nstill be dominated by construction of onshore and offshore<br>\npetroleum production and distribution facilities, infrastructure<br>\nprojects the development of traditional markets, shopping malls<br>\nand housing estates.<\/p>\n<p>Throughout the economic crisis, the construction market has<br>\nbeen sustained by the oil and gas industry, strong levels of<br>\ndomestic consumption and foreign aid.<\/p>\n<p>\"Despite the declining levels of foreign investment, it<br>\nremains the largest national market for construction in Southeast<br>\nAsia,\" he said, without providing details.<\/p>\n<p>According to the BCI projection, the country's retail building<br>\nsectors would grow by 21.02 percent, residential by 18.21 percent<br>\nand offices by 14.73 percent.<\/p>\n<p>Total investment in the country's construction sector next<br>\nyear would reach US$2.177 million (RP 21.770 trillion), it said.<\/p>\n<p>Construction sector growth: 1994 (14.86%), 1995 (12.92%),<br>\n1996 (12.76), 1997 (7.36), 1998 (-36.46), 1999 (-1.63), 2000<br>\n(4.30), 2001 (8.50), 2002 (9.50).<\/p>",
        "url": "https:\/\/jawawa.id\/newsitem\/construction-sector-grows-by-10-next-year-analyst-1447893297",
        "image": ""
    },
    "sponsor": "Okusi Associates",
    "sponsor_url": "https:\/\/okusiassociates.com"
}