Despite some positive signs and 3.6% world economic growth projected for this year, global economies remain “fragile,” construction-industry economist Anirban Basu told Global Construction Summit attendees in New York City last month. U.S. growth was just 2.2% this year, with annual growth not hitting 3% since 2005, he told the Oct. 23 gathering, sponsored by ENR and Marcum LLP.
Russia’s economy is set to rise just 1.8%, and while China is anticipated to see a 6.8% boost, the increase “is still the worst in a decade,” said Basu, who is chief economist for Marcum, an industry financial adviser.