VIDEO: Emerging market rebound

The global construction industry is in the middle of one of the deepest recessions on record, but data is now emerging of an economic recovery.

It is generally in the more developed countries of the world where the recession is hitting the construction sector hardest. In contrast, the world's developing economies are, with a few exceptions, weathering the storm fairly well. They will generally only have short, shallow construction recessions, and some will not experience any fall in activity at all. Those emerging markets that do see a downturn will generally be the first to recover.

Developing Asia will lead the way, and an expected rise in commodity prices providing a lift in the Middle East and Africa. Russia, the CIS and Latin America will also benefit from this, although to a lesser extent.

The economic recovery is expected to be more pronounced in 2011, and after that, the pattern of world growth is expected to be similar to the pre-boom years. The only difference is that the magnitude of the growth will be lower.

But still, there will be a clear pattern of emerging economies, particularly developing Asia, growing much faster than the developed world.

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