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Despite the ongoing uncertainty over the COVID-19 pandemic, growth in global construction output will reach 5.7% in 2021, following the 2.4% drop in 2020. Although recovering from the COVID-19 crisis, the global industry has borne a huge cost in terms of foregone revenue, says GlobalData, a leading data and analytics company. According to GlobalData’s latest report, ‘ Global Construction Outlook to 2025’, global construction will continue on a recovery path, following the historic collapse in activity in 2020 amid the severe disruption caused by restrictions imposed to contain the spread of COVID-19. From 2022 to 2025, global output growth is predicted to average 3.7% a year. Danny Richards, Lead Economist at GlobalData, comments: “There is also still great uncertainty over how the COVID-19 crisis will play out, with positive news on the one hand stemming from the successful rollout of vaccines in many markets and concerns on the other hand over the reports of new variants

Danny richardsConstruction outlookLead economistடேனி ரிச்சர்ட்ஸ்கட்டுமானம் ஔட்‌லுக்வழி நடத்து பொருளாதார நிபுணர்