IHS announced the findings of its Second Quarter 2011 IHS Global Insight Global Construction Outlook. Total global construction spending is expected to increase three percent in 2011, and to reach the pre-crash peak level (2005 dollars), last seen in 2007, in 2012.
Global residential sector spending will increase 1.2 percent over 2010 levels in 2011; non-residential structure spending is expected to grow at 4.3 percent; and infrastructure spending will increase by 3.7 percent.
Residential construction is expected to reach its pre-crash peak level (2005 dollars), last seen in 2006, in 2015; while non-residential structure construction spending will reach its 2008 pre-crash level (2005 dollars) in 2013.
Total construction spending growth will be seen in all regions in 2011, with the exception of North America, where the crisis in residential construction will continue to cause contraction in the sector. Growth will be lead by South America and the Asia Pacific Region in 2011, with global growth in total construction spending to return by 2015.