COVID-19 Economic Shock Will Cause Global Construction Output to Shrink by 1.4% in 2020
LONDON, ENGLAND -- As a result of the severe economic shock caused by the lockdown measures imposed by governments around the world to contain the spread of COVID-19, global construction output is expected to contract by 1.4% in 2020, according to GlobalData, a leading data and analytics company.
“Although the construction industry has in some cases been exempt from restrictions on business activity, few major markets will manage to record an increase in construction output in 2020,” said Danny Richards, lead economist at GlobalData.