Steel Markets
June 18, 2020
AGC: "Immediate Crisis Has Passed" for Construction
Written by Tim Triplett
Construction activity is returning to pre-coronavirus levels in many parts of the country and some firms are adding workers, report the Associated General Contractors of America and construction technology firm Procore, based on just-completed research. The new economic data, however, also shows some future projects are being canceled and many others are being delayed by supply chain issues and labor shortages, underscoring the need for additional federal recovery measures, association officials said.
“Many of the immediate economic impacts of the coronavirus have passed and, as a result, activity and hiring are up, a bit,” said Ken Simonson, the association’s chief economist. “But while the immediate crisis appears to have passed, we are just now beginning to appreciate some of the longer-term impacts of the pandemic on the industry.”
