North America’s infrastructure projects are meeting deadlines and being completed more efficiently than in any region in the world, according to the 2022 Construction Project Momentum Index released by GlobalData,
North America’s construction sector was given a 1.31 score followed by North East- Asia (0.84), Middle East, and North Africa (0.75). On the other hand, the figures of Latin America (-0.02), Eastern Europe (-0.53), and Sub-Saharan Africa (-0.81) show that the said regions are struggling to complete their infrastructure projects.
Railway Technology further explained:
North America has a score of 1.31 in GlobalData’s March 2022 Construction Project Momentum Index, which provides an assessment of the health of the construction project pipeline at all stages of development from announcement through to completion.
Every construction project in GlobalData’s database is assigned a score of between 5 and -5 based on its current progress, a score which is continually updated over time. These are then weighted by the value of each project in order to come to overall scores for countries, regions and sectors.
North America has made the most significant recovery from the pandemic. The region’s score on GlobalData’s Construction Project Momentum index has, when it comes to infrastructure projects, gone from an average of 0.54 at the height of the pandemic (March-December 2020) to 1.31 in March 2022.