A survey of construction firms found that 93% are experiencing increased costs due to the pandemic, according to the Associated General Contractors of America.
Nearly three-fourths of the survey respondents also reported project delays and disruptions, mainly due to shortages of materials, equipment or parts.
“The survey results make it clear that the construction industry faces a variety of challenges that threaten to leave many firms and workers behind, even as some parts of the economy are recovering or even thriving,” stated Ken Simonson, AGC’s chief economist. “The pandemic has left the supply chain for a range of key construction components in tatters and undermined demand for a host of private-sector projects.”
The full AGC report can be found here.
