World Construction Spending Nears $4 Trillion for 2004

Tulacz, Gary J.
January 2005
ENR: Engineering News-Record;1/3/2005, Vol. 254 Issue 1, p12
Trade Publication
This article reports that the 55 countries with the largest construction markets spent $3.9 trillion on construction in 2004. According to study by Global Insight Inc., a Waltham, Massachusetts-based economic consulting and research firm, the overall world market for construction will grow by 2.6% in 2005 and show an average annual growth rate of 2.6% through 2008. In nominal dollars not adjusted for inflation, the world market's annual growth rate would be 6.7%. The study assesses each country's spending history, current construction market, rate of economic development and business risks. It also assesses the projected growth rates of each country, as well as by regional and by broad market categorization in real dollars adjusted for inflation.


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