Building Momentum In The Construction Industry Post-COVID-19

As we look to the post-COVID economy, positive signs are emerging in many key economic indicators — declining unemployment, increased spending, and rising consumer sentiment. As a builder turned banker, construction numbers are a factor that I monitor closely in terms of one of the real signs of the health of our economy.

Is a springtime construction renaissance currently building? In my view, we are witnessing firsthand several indications that suggest growth in this sector. Projects that have been sidelined for months are finally coming off the drawing boards and receiving funding. Amid an ongoing housing market boom, the construction industry added 110,000 jobs in March, recovering over 80% of the jobs lost over the course of the COVID-19 pandemic.

Despite the increased lead times for products and project starts or increased prices of materials, this activity is signaling a strong resurgence for builders in the coming months, with a newfound optimism for the sector emerging from the COVID-19 pandemic.

Original article: https://www.forbes.com/sites/franksorrentino/2021/04/22/2021-building-momentum-in-the-construction-industry-post-covid-19/?sh=77ceea8b533e