Share this on FacebookSeptember 22nd, 2020 | by NEWCA
According to ConstructionDive, new industry data is providing “a glimmer of hope for the industry, following a summer of worrisome trends that emerged in the immediate aftermath of the COVID-19 pandemic.”
The encouraging news is culled from two reports and appear to indicate that the construction industry has seen a fuller rebound from COVID-19 related losses than any other industry in the U.S.
The rebounds cited include:
• 16 percent rise in nonresidential building starts
• 40 percent jump in nonbuilding construction, which includes infrastructure
• Nearly 60 percent jobs recovery by July 2020
The story cites Associated Builders & Contractors (ABC) stating that the construction backlog has rebounded to eight months by August 2020.
“Construction starts continue to make up ground following the nadir in activity in April,” said Richard Branch, Dodge’s chief economist, in a statement. “Residential and commercial construction are driving the gains.”
You can read the whole story here.