In this report, GlobalData provides a summary of the outlook for 10 key markets across the world, showing the core forecast for quarterly output to end-2023 along with an indication of the variation around that forecast that reflects the uncertainty over how the industry will recover from the pandemic induced disruption in 2020.
The markets featured include the US, where residential construction has boomed and offset weakness across the other key sectors. Prospects for growth in infrastructure have improved following the signing into law of the Infrastructure and Jobs Act. China suffered another downturn in late 2021, and the outlook remains clouded by uncertainty as to how policymakers will pursue efforts to rein in debt levels in the all-important real estate sector. Vietnam also weakened in Q3 2021 owing to an unexpected shutdown to try to contain COVID-19 infections, but a solid recovery is on the cards.
Also featured are France and Brazil, which have rebounded from the sharp declines in 2020 but will struggle to generate solid growth momentum. Other markets included were disrupted to a lesser extent in 2020, and where growth prospects remain positive, such as Egypt, the Netherlands, Estonia, Qatar and Russia.