Podcast: US construction bears impact of pandemic

21 April 2020

 

According to the latest survey by the Associated General Contractors of America (AGC), over half of US construction firms responding say they’ve experienced work stoppages as a result of owners halting or suspending projects due to effects of the coronavirus pandemic.

ICON-Podcast-Screen-JL x KS

Over two thirds of respondents reported project delays and/or disruptions, and the most common reason was a shortage of personal protection equipment.

Ken Simonson, chief economist for Associated General Contractors of America (AGC), tells Jenny Lescohier of International Construction about these survey results and more in this podcast. 

Simonson also reported that, despite the negative effects of the current crisis, there are some areas of construction that could see an uptick, including telecommunications and distribution. For remaining sectors, however, he says it’s likely to be a slow road to recovery. 

While some have predicted pent-up demand to create a wave of construction activity once the economy opens back up, Simonson cautions that owners, no matter who they are, will likely experience a period of financial difficulty until revenues and demand rise back up.

 

Latest News
What will the cities of the future look like?
The world’s biggest cities will be located in different areas than today and will also look considerably different 
New chief executive for Cimic
Pedro Vicente has been promoted to be the group’s chief executive
Construction of underwater research facility
Drass Group will partner with Proteus Ocean Group on underwater research facility project