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Construction begins to recover

As these charts show, the construction industry has suffered a devastating decline since peaking in late 2005. After six years of contraction, the sector has shrunk by two-thirds relative to the size of the economy. But now it looks like the worst is over, and a slow and gradual recovery is beginning. It will likely be many years before the industry fully recovers, but along the way we could see some pretty spectacular growth rates. I expect it will be slow progress this year, but picking up lots of speed by next year.

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