Construction recovery from coronavirus (COVID-19) will take longer than originally thought

Construction recovery from coronavirus (COVID-19) will take longer than originally thought

The Association for Consultancy and Engineering (ACE) has announced that, in accordance with the latest Arcadis summer UK Construction Market View report, the construction industry’s recovery from coronavirus (COVID-19) ‘is expected to take longer than initially thought.’ Arcadis stated that both urgent short-term and long-term actions are required for recovery, warning that the ‘risk of disruption’ remains. Additionally, Arcadis notes that the industry is ‘at a turning point’ as prices have been rising since 2014 with profitability barely recovering and further disruptions ahead. Arcadis believes this will cause contractors and their supply chain to take a ‘risk averse approach to business development.’ Nonetheless, Arcadis presents a ‘bullish view for the longer term.’

The report can be viewed here.

Source: Construction recovery likely to take longer than initially thought

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