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Given the BER baseline view on prospects for the overall South African economy, a sustained expansion in overall building activity is only expected towards late 2011. Fixed investment in the private residential sector is expected to lead the revival. In terms of the BER baseline forecast, the recovery in the building industry over the medium term is unlikely to match the robustness of that which was evident in the previous expansion of 2003-2007. An average real growth rate in fixed investment in buildings of 5.4% for 2011-2015 is forecast.
