VIDEO: Global construction outlook
By Chris Sleight04 October 2012
Delegates at this year's CEWEF heard that global construction output will grow about +3.5% this year.
Developing Asia will once again be a key driver, and growth in North America will be strong, although the market there remains depressed due to a long downturn in construction.
The presentation was given by iC editor Chris Sleight, who reviewed the world's recent economic past, and used a variety of sources and other evidence to paint a comprehensive picture of the state of the construction industry worldwide.
Mr Sleight said global construction markets had hit a speed bump this year, as the slowdown in China and sovereign debt crisis in parts of Europe hit economic activity worldwide.
However, the outlook for 2013 and beyond is for a mild acceleration in the recovery.
Emerging markets will continue to offer the highest growth prospects, and there is a general focus in these countries on infrastructure and energy, often supported by the multi-lateral development bank community.