New Data Shows Construction Activity Returning to Pre-Coronavirus Levels
A new survey by the Associated General Contractors of America and data from construction technology firm Procore show that construction activity is returning to pre-coronavirus levels in many parts of the country and some firms are adding workers. 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 noted.
“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.”