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Report: Global construction to outpace GDP

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Global construction will outpace the world’s economic growth over the next decade, according to a report released in March by Global Construction Perspectives Ltd. and Oxford Economics Ltd. Advisory firm PricewaterhouseCoopers sponsored the Global Construction 2020 report, which predicts global construction will grow by 67 percent to $12 trillion by 2020, from $7.2 trillion today, and outpace gross domestic product. “Construction has never seen such rapid growth above GDP, fuelled by the emerging super powers of China and India and a rebound in U.S. construction,” said Graham Robinson, an author of the report. Over the next decade, a total of $97.7 trillion will be spent on construction, globally.