The Associated General Contractors of America (AGC) and Sage Construction and Real forecast the COVID-19 pandemic to shrink construction demand, decrease new hires and increase cancelled or delayed production in 2021.
AGC and Sage conducted the 2021 Construction Outlook National Survey, which accumulated 1,329 responses, and discussed the results in a Facebook Live event with a panel of contractors on Thursday. The survey concluded that most companies anticipate declining demand for work in all construction categories excluding water and sewer, warehouse and other healthcare facilities (clinics, testing or screening, or medical labs).
AGC Chief Economist Ken Simonson forecasts
the construction industry won’t return to pre-pandemic levels anytime soon. Of the survey participants, 59% of companies had to postpone production and 44% saw project cancellations, resulting in lost income in 2020.
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