Argentina's construction boom boosts petchem demand,slower arowth seen

摘要

Buenos Aires-Argentina's bustling construction industry is pushing up demand for formaldehyde,methanol and polymers,helping boost earnings for domestic producers.The construction has supported Argentina's recovery from its 2001-2002 financial crisis,rising by more than 20% a year since then,or more than double the economy's 8-9% annual expansion since 2003.After the financial crisis,money was plowed into property because it was considered a safer investment.And investment in real estate was cheap.Furthermore,the two-thirds devaluation of the Argentine currency made construction costs cheap in dollar-terms,particularly for the foreign investors that entered the market.