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Slow growth

Construction growth slowed down in the first quarter of this year but economists are still bullish about the industry's progress. Experts at the Royal Institution of Chartered Surveyors said growth slowed to 0.5 per cent in the first three months of 2005 compared to 1.1 per cent during the last quarter of 2004.

But they believe the slowdown will be short-lived because output is still up 3.1 per cent from last year on the corresponding period, which is significantly up on the 12-month growth average of 2 per cent.