According to the Global Building Outlook and the Oxford Economy on Friday, the US construction industry will exceed GDP by averaging 5.9% per year in 2020. Although the GDP growth of 1.3% in the second quarter of 2011 did not meet expectations, the non-residential annual growth rate of non-residential investment in the US construction industry was 8.1%, and the annual growth rate of residential housing was 3.8%, which continued to decline in the first quarter. Graham Robinson, chairman of Global Building Outlook and global construction industry 2010 author, said the US construction industry is expected to pick up from the recession as both residential and non-residential construction markets are growing at double-digit rates in the short term. Doug Godden, a senior economist at Oxford, also said that China surpassed the United States in 2020 to become the world's largest construction market, but the US is driven by cyclical growth and population growth and will remain the world's second largest construction market by 2020. .
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