MENA construction output to drop significantly; slow 2021 recovery expected – ZAWYA

MENA construction output to drop significantly; slow 2021 recovery expected – ZAWYA

MENA construction output to drop significantly; slow 2021 recovery expected | ZAWYA MENA Edition HomeBusinessConstructionArticleMENA construction output to drop significantly; slow 2021 recovery expected GlobalData slashes construction output growth forecast for the region for 2020 to -2.4%    Image used for illustrative purpose. Construction cranes and bulldozers operate at a real estate construction site being built in Doha in September 25, 2012. Total construction output in the Middle East and North Africa (MENA) region is expected to witness a big slump for the rest of the year and the sector is expected to face headwinds in 2021 with a slow recovery, GlobalData, a leading data and analytics company revealed.GlobalData has further cut its construction output growth forecast for the region for 2020 to -2.4 percent, down from the previous forecast of 1.4 percent, due to the continued spread of COVID-19.Construction sector in the MENA region is expected to be bit by the triple whammy of lower oil production, low oil prices and contracting non-oil sectors, the data provider said in a statement.GlobalData has further cut its construction output growth forecast for the region for 2020 to -2.4 percent, down from the previous forecast of 1.4 percent, due to the continued