On July 2019 this year, I was sharing how I believe that the construction industry in Singapore has pretty much bottomed out during the TheEdge Mid-Year Investment Forum 2019.

As we can see from this chart, it shows the labor force numbers within the different industries in Singapore and I noticed that for 1Q2019, we see the start of an uptick in labor force numbers for the Construction industry. While it is only an increase of 200 workers, it is after a decline of 11 consecutive quarters. From 2Q2016 we see how the construction labor force shrinking non-stop till 4Q2018. Furthermore, talking to people within the industry, I got the impression that things on the ground was more positive as well. Construction firms were saying that their staff were much busier now and how their firms were winning 30% to 50% more contacts year on year.

Tiong Woon &