...Developed Markets Rebound: Fitch Ratings expects single-digit earnings growth across the European Building Materials and Products sector as capacity utilisation improves and as a result of the cost-cutting programmes over the past few years, which have put companies on leaner operating structures. We also expect healthy growth in the US and the gradual recovery in the EU to shift the focus from emerging to developed markets. Weaker Emerging Markets: Emerging-market growth, in particular Russia and China, will slow down, although construction activity remains high in selected regions, including India, Indonesia, Malaysia and Mexico. Beyond the short term, emerging-market construction markets will benefit from fundamental growth in infrastructure and housing demand. CRH Well Positioned: We believe the strong UK and US markets will benefit companies such as CRH, which has limited to no exposure to weak central and southern European markets and whose growth already leapfrogged that of peers...
