Coronavirus Outbreak Fosters Uncertainty But Has Yet to Fully Manifest in Construction Services Industry
- August 25, 2020
- Posted by: Alan Hageman
- Category: News
Capstone Headwaters released its Q1 2020 Construction Services Coverage Report today, detailing the impacts of the Coronavirus and key industry updates. According to the report, the pandemic has fostered heightened uncertainty among operators in the Construction Services industry in forecasting project timelines, costs, and employment.
Despite virus-induced supply imbalances, it has yet to manifest into downward pressures on input pricing and backlog activity in the Construction industry. Positive momentum in the sector leading up to the pandemic supported solid fundamentals with total construction spending increasing 1.8% from the prior month in January, the largest monthly increase since February 2018, according to the U.S. Census Bureau.