Construction Output Predicted To Rise

The emergence of China, India and Brazil has lead to the prediction of a seventy percent increase in Global Construction including the steel industry.

The report published by Global Construction Perspectives and Oxford Economics has assessed the major markets over the next decade.

India, China and Brazil are expected to double their output.

Poland and Russia are also highlighted as growth areas whereas the US is singled out for being the most active construction nation among the developed nations.

Western Europe and Japan are forecast to be the lowest growth regions, but within Western Europe the United Kingdom and Greece will fair better than most.

RICS chief economist Simon Rubinsohn, who has been closely involved with the team from Global Construction Perspectives and Oxford Economics said: “The predicted sharp increases in construction levels will be a reflection of the strength of the markets in emerging economies such as India, Brazil and China, who are set to double output over the next decade.

“Although developed areas in general are likely to see relatively modest growth, the US may be something of an exception. The forecasts suggest that US construction output will in particular benefit from a rebound in residential building.”

Among predicted output steel beams are expected to be in high demand.

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