Fourth Quarter Construction Economics: Four Things to Watch in 2021
By Anirban Basu, Chief Construction Economist, Marcum LLP
Issue 34 – Fourth Quarter 2020
The Marcum Commercial Construction Index for the fourth quarter of 2020 reports that the industry has reasons for optimism and pessimism as it recovers from the recession caused by COVID-19. Total construction employment has rebounded since plummeting in March and April but remains 3.3% below pre-pandemic levels.
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Does Nonresidential Activity Bounce Back in ’21?
There are reasons for both optimism and pessimism regarding nonresidential construction prospects in 2021. Perhaps that’s always the case, but forces
What is the Likely Timing of Nonresidential Recovery?
Typically, it takes quite some time for broader economic meltdowns to impact nonresidential construction.
How Will Material Prices Behave Going Forward?
Supply chain disruptions also have implications for materials prices. For example, the cost of shipping has increased dramatically over the past year.
Residential Construction Impact on Broader Industry
As noted earlier, amid the ruin, there has been at least one massive construction segment that has performed brilliantly – housing.