受固定资产投资增速下滑及供给侧改革等因素影响，2016 年下半年，建筑业产值增速将放缓，同比增长5%左右。入汛以来，众多大中小城市相继遭受暴雨和内涝之苦。预计 2016 年下半年，地下管廊开工和施工进度都将提速。

The global construction market will grow at a rate of 3.9%, which is faster than the global GDP growth rate of 3.1%. One of the major reasons for this growth is the rapid rise in urbanization and industrialization in Asian economies, which drives the demand for construction. Additionally, the US economy has recovered from past economic recessions, and the GDP is projected to grow at a rate of 2.2% in 2016. This will boost the growth of industries, including the construction market.

The main features of a smart bathroom are: Optimal use of space by integrating a vanity cabinet with the sink Smart bathroom fittings such as automatic faucets, flush systems, soap dispensers, and trash cans to help maintain hygiene Smart windows that help facilitate maximum natural lighting, reducing the use of energy and artificial light during the day Automatic faucets and cisterns with motion sensors to help conserve water

Construction management software is used to plan, collaborate, and manage construction projects. The software helps contractors to estimate the budget and define the scope of the project and the desired outcome before project commencement. It provides an overview of the required labor and helps develop effective communication during times of conflict.

受美元加息预期和监管层加强监管等因素影响，上周投资者风险偏好基本持平，市场短期获利了结心态有所上升，其中上证综指下跌1.22%，收于3,070.31。中小板指下跌1.01%，收于6,872.16。创业扳指下跌0.86%，收于2,170.86。CI 建筑指数上个交易周上涨0.02%，收于4,114.53。CI 建材指数下跌0.69%，收于5,672.91。

近期重点推荐低估值与确定性高的：东方雨虹、中国巨石、大亚科技、伟星新材、有望出现业绩及估值的双升，并重点推荐高能环境等。

从国外建材双巨头Holcim 和Lafarge 合并，中国建材及中国中材的整合是传统行业大企业间合并重组是行业发展到成熟阶段的必然结果。

行业收入稳步增长，净利拐点初现，玻纤、水泥、玻璃、其他建材业绩增速较好。2016 年上半年，SW 行业分类建材下水泥、玻璃、玻纤、管材、耐火和其他建材6 大类77 个公司总计实现营收1,418 亿元，YOY+7.57%；归母净利87.65 亿元，YOY-0.06%。其中二季度行业实现营收864 亿元，YOY+11.60%；归母净利78.79 亿元，YOY+3.52%。

建筑行业：受经济下行影响，建筑板块2016 上半年收入、净利增速分别放缓至4.92%、10.82%，子行业中建筑设计、智能工程、国际工程成为亮点，收入增速维持较高水平，装饰和房屋建筑Q2 要明显好于Q1；回款方面，受益于PPP 项目的持续落地，园林、房建现金流改善明显，装饰现金流同样改善明显；行业垫资比例略有下降。

本周全国水泥市场价格继续走高，环比上涨1.1%。价格上涨区域主要集中在山西、福建、湖北、广东、广西和四川等地，不同地区价格上调10-30 元/吨。周全国跟踪82 个城市的水泥平均库存为66.38%，较上周下滑0.81 分点；其中省会城市水泥库存为64.3%，较上周下滑0.9 个百分点。