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Global construction output growth will decline to 2.7% in 2019

The deterioration in construction output growth across emerging markets has been worse than previously expected, particularly in the US and the Middle East. Therefore, the forecast for global construction output growth in 2019 has been revised down to 2.7%, which will be the slowest pace of growth in a decade, according to GlobalData, a leading data and analytics company.

GlobalData’s central forecast sees global construction output growth increase to 3.2% in 2020 and then stabilize at 3.4% over the remainder of the forecast period, which runs to 2023.

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