Industry - Global Industry Forecasts - Construction
Global construction output is expected to rise 2.9% in gross value-added terms in 2024, slightly weaker than the 3.7% growth in 2023. Growth in advanced economies continues to lag emerging markets in 2024 but the difference between the two has narrowed. The US is forecast to experience the strongest growth with India and China to growing albeit slower than 2023. We have also raised the outlook for 2025 as growth in emerging markets looks to remain strong through the short and medium term.
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