Due to higher-than-expected construction activity in the first quarter of 2021, the Latin America?? construction industry is now forecast to grow by 9.7% in 2021 and 5.6% in 2022. The growth will be seen in Brazil, Argentina, Colombia and Peru, where public authorities are struggling to contain Covid-19 infections.
The company?? report, ??lobal Construction Outlook to 2025 (Q2 2021 Update)?? states that over the remainder of the forecast period (2023 ??2025), growth in the industry is forecast to moderate to an annual average of 3.1%, with construction output in the region expected to return to its pre-pandemic level in 2023.