Summer 2024
The global construction sector continues to face significant headwinds in 2024. High interest rates have dampened activity, but expectations of a lower interest rate environment in 2025 have improved the outlook.
Globally, costs have decreased from peak 2021-2022 levels; however, electrification-focused commodity prices are high.
Primary risks continue to be geopolitical and economic pressures, along with labor constraints, which are affecting construction projects globally.
The Construction Insights – Summer 2024 report provides insights into the key factors that influence the construction sector in 2024, empowering you to make informed decisions for your organization throughout the year.
Key Takeaways:
- Global supply chain stress receded from peak levels, but geopolitical tension is applying upward pressure across regions.
- Labor constraints persist in the sector, making it difficult to fill open positions and resulting in extended project timelines.
- Construction pipelines for industrial and office construction have fallen from peak levels.
Download the full report External Linkto stay informed on the dynamics influencing the construction industry in 2024.
