Construction Accounting & Taxation published article from Construction Leader Joseph Natarelli & Chief Economist Anirban Basu, about the impact of coronavirus in the construction industry.
Construction Accounting & Taxation
By Joseph Natarelli, National Construction Industry Group Leader & Anirban Basu, Chief Construction Economist
It will take time for developers to regain confidence in the face of elevated office vacancy rates and empty storefronts. As many contractors work through their respective backlogs into 2021, there may be a period of significantly diminished activity. Public construction may also be impacted as many state and local governments strive to recover from a period associated with shrunken tax revenues and raided rainy day funds.
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