Coronavirus Expected to Impact Construction Industry

Recent data trends are indicating that the coronavirus may seriously impact the construction industry now and in the coming weeks. Market intelligence expert, Keith Prather expects the U.S. to see a surge in new manufacturing and supply chain-related construction projects reenter the market.

Prather, and senior strategist, DeWayne Ables explain how the pent up demand from COVID-related construction shutdowns is likely to lead to a “construction tsunami” in the third quarter due to our economy’s historically low-interest rates and rise in market liquidity. Ables notes that the design-build delivery method is best for these circumstances given the fast-paced method is centered around problem-solving and teamwork, allowing for precise decision making and flexibility.

General contractors and construction companies who deploy the design-build method will benefit as the market turns around, as they are nimble and quick to adapt to uncertainties and opportunities.

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