Affected by the Covid-19 pandemic and the turbulent oil market, the construction output of the Middle East and North Africa (MENA) region in 2020 will shrink by -2.2%, lower than the previous forecast of -1.4%.
From a long-term perspective, GlobalData predicts that construction industry output will increase by 4.6% in 2020 at the latest in the fourth quarter of 2019.
The direct impact of the measures to prevent Covid-19 on the business severely hit the business sector. When enterprises start to resume production in the third quarter and the restrictions on traffic are further relaxed, it is expected that the demand for construction machinery will rebound slightly.
