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August 11, 2020
COVID-19 pandemic expected to further slow the global construction activity
Global construction activity contracted across all region in Q2 due to the lockdowns to control the spread of the COVID-19 virus and the impact of social distancing on jobsite activity. It is estimated that during Q2, onsite productivity dropped by -12% and approximately 25% of all projects were halted. On top of that it is anticipated that cost escalations over the next year will put additional pressures on the markets. According to RICS’ Global Construction Activity Index, a measure of current and expected construction market conditions among construction professionals read -24 ...
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