Steel Markets
March 24, 2020
AGC Survey: Virus is Slowing Construction Projects
Written by Tim Triplett
The coronavirus pandemic has caused more than one out of four contractors to halt or delay work on current projects, according to a new survey by the Associated General Contractors of America. As an industry, construction is the biggest consumer of steel worldwide.
The survey results show how quickly market conditions have changed. AGC data showed that a majority of metro areas added construction jobs through January. Association officials noted that a relief bill the Senate is considering includes some favorable tax and loan provisions. But, they said, the bill also needs new infrastructure investments and improvements to the new paid sick and family medical leave measures.
