1 minute reading time (228 words)

Construction Industry Concerned Over Pandemic’s Long-Term Impacts

Eight months into the pandemic, construction professionals are raising concerns over potential long-term impacts leading into the coming year. Associated Builders and Contractors' Construction Executive magazine recently conducted a survey highlighting the top concerns, including "supply chain disruptions, prolonged municipal permitting processes and delayed inspections due to office closures."

According to the survey, more than 85% of contractors said they were negatively impacted by the pandemic due to postponed or cancelled projects, despite being deemed essential business. Any hopes of stabilization aren't expected until sometime in 2021, the survey states, with about 10% of respondents believing the industry "may never reach pre-pandemic levels."

"While the survey respondents' concerns about market viability and the health fears of the virus itself will remain in place for the duration of 2020 and into next year, contractors did report bright spots, such as a widespread adoption of technology after the outbreak of COVID-19," Lauren Pinch, editor-in-chief of the magazine, said in the report. "That said, as the pandemic continues to change the landscape of the U.S. construction industry and state and local economies, contractors are continuously trying to assess the near- and long-term effects."

Despite calls for social distancing and other precautionary measures in and outside workplaces, more than 75% of respondents said there hasn't been any changes in construction designs.

—Andrew Michaels, editorial associate

Retail Sales Climb Higher Than Expected
Dodge Momentum Index Increases in September

Related Posts

 

Comments

No comments made yet. Be the first to submit a comment
Already Registered? Login Here
Guest
Friday, 04 December 2020