Constructing strings in loops [duplicate]

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• Does redeclaring variables in C++ cost anything? 5 answers

If a string is constructed inside of a loop

for (int i = 0; i < 10; ++i) {
    std::string s = "Hi!";
    // Do stuff with s ...
}

vs. constructed outside

std::string s = "Hi!";
for (int i = 0; i < 10; ++i) {
    // Do stuff with s ...
}

Will there be a difference in performance? Ie. Will the string be reconstructed on each iteration of the loop?