Despite major headwinds, the residential construction segment has remained resilient and lower interest rates could revive prices and activity in 2025. Housing starts and residential building permits have been going down in most countries over 2024.
All in all this year, we expect double-digit increases in bankruptcies for half of the world. Year-to-date, the number of business insolvencies worldwide has increased by +9% and the rise has been broad-based across geographies and sectors.
Tropical cyclones (TCs), are among the most destructive extreme weather events globally, causing an average of 43 deaths and USD78mn in economic damages daily.
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