Construction growth to outpace manufacturing this decade, says new global forecast

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Construction will be an engine of global economic growth in the decade to 2030, with output expected to be 35% higher than in the ten years to 2020, according to a new global forecast. 

Pent-up household savings, pandemic stimulus programmes, and population growth will combine to spur average annual growth of 3.6% between now and 2030, propelling construction’s expansion ahead of growth in both manufacturing and services. 

Growth will be concentrated in a handful of countries, with just four – China, India, US, and Indonesia – accounting for some 58% of projected global expansion. However, the forecast contains some surprises, such as growth in UK infrastructure averaging 3.7% a year to rival China as UK mega projects begin. 

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