Reflecting the extent to which governments around the world have imposed lockdown measures to contain the spread of COVID-19 and the resulting severe economic shock, GlobalData expects global construction output to contract by 2.3% in 2020.
The current forecast assumes that the outbreak is contained across all major markets by the end of the second quarter, following which, conditions would allow for a return to normalcy in terms of economic activity and freedom of movement in the second half of the year.
However, there will be a lingering and potentially heavy impact on private investment owing to the financial toll that has been inflicted upon businesses and investors across a wide range of sectors. In the event that the spread of the virus continues into the second half of 2020, further downward revisions to the growth outlook are likely.
GlobalData’s “Global Construction Outlook to 2024 (COVID-19 Impact)” report provides detailed analysis and insight on the impact of COVID-19 on all major markets and data covering 91 markets.
Please fill in the form to receive a copy of the highlights report, which includes insights from GlobalData's survey of industry executives on COVID-19 impact.
The full report is available here.