Dariana Tani, Economist at GlobalData, comments: “North America’s construction industry contracted marginally in 2019, but will recover steadily in 2020 supported by ongoing investments in infrastructure developments."
“Construction in the US has been particularly weak due to a dismal performance in the residential buildings sector. Activity in Latin America has also been very weak, and GlobalData now expects the region’s construction output to have grown by just 0.1% in 2019 due to particularly poor performances in Argentina and Mexico, alongside disruption to activity across countries suffering from social unrest. A recovery in construction growth in Brazil will help to push up the region’s pace of expansion in 2020, offsetting ongoing weaknesses stemming from political instability.”
Global construction output growth is forecast to edge up to 3.1% in 2020.
