The annual WA100 survey shows more firms anticipate global growth this year. Regionally, the US is strong but the Middle East continues to lead, while China slows and Europe sickens
Confidence is reviving in the prospects for the global construction economy, but sentiment is more polarised than previously. That’s the verdict of the top practices surveyed for this year’s WA100.
Nearly two-thirds (61%) of firms polled anticipate growth in the world construction economy next year, of whom 9% believe this expansion will be strong. This marks an improvement on last year, when firms anticipated growth of 49% as the world economy was buffeted by the Ukraine war and the knock-on energy price shock.
However, 16% reckon that there will be a decline in the global construction economy, up from 10% last year. The proportion of those forecasting stagnation in the upcoming 12 months has narrowed to 23%, down from 40% last year.
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