Strong US recovery dominates region

摘要

Real total construction in North America grew 1% in 2017, well below the region's gross domestic product (GDP) growth of 2.3%. Buoyed by federal tax cuts and spending increases, real GDP is projected to expand 2.9% in 2018 and 2.7% in 2019, pushing the unemployment rate down to 3.4% and fuelling inflation. In response to monetary tightening and capacity constraints, economic growth is expected to subside to 1.9% in 2020 and 1.6% in 2021.