3 REGIONAL - 3.1 NORTH AMERICA - The United States
In 2021, the U.S. economy rebounded from the big plunge caused in 2020 by the pandemic, recording GDP growth of 5.7% year on year, according to the IMF. Along with GDP growth, annual construction spending in the residential sector jumped by 25% year on year, according to the U.S. Census Bureau data. On the other hand, construction spending in the non-residential sector fell by 3.7% year on year, as construction work did not progress.
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