We forecast global revenue growth of around 5% on average for rated construction companies. This will be driven by output growth across all industry segments and most continents, supported by robust economic growth prospects and low interest rates. Our revenue growth forecast is towards the upper end of our 0%-6% range for a stable outlook. We forecast a global book-to-bill ratio, our second outlook metric, at 1.2x on average which reflects the current healthy industry conditions and suggests sustained revenue growth during 2019 and beyond.
Revenue will grow fastest in Asia Pacific and North Americawith rates of up to 10% and 6%, respectively. Revenue growth of 8% or higher in China continues to reflect strong demand, mainly in the country's transport infrastructure segment. In the US and Canada, still healthy residential and a pickup in commercial construction activity will drive volumes as government funding schemes and increased commodity sector spending come into play...
Read more about Moody’s global construction outlook for 2019.