In the second quarter of 2023, Japan’s economy surpassed its pre-pandemic peak, underscoring the country’s robust recovery from the global recession. A recent commentary by the global professional services company Deloitte noted that the external sector and the central bank’s accommodative monetary policy have played a crucial role in supporting this growth.
This economic rebound is having a positive impact on the construction sector, which is expected to grow by 4.6% in 2023, reaching a total value of JPY 35.5 trillion, according to Research and Markets. This momentum is expected to continue, driving an industry compound annual growth rate (CAGR) of 3.8%
