Construction companies are facing exceptional levels of uncertainty. With the novel coronavirus still spreading, varying levels of economic restrictions in place, and with national elections weeks away, contractors are desperate for signs of how demand for projects will vary by region and type of structure. Equally important are the prospects for supply-chain disruptions, materials prices, and availability of employees, subcontractors and government workers needed to approve projects.
Fortunately, this uncertainty and confusion is occurring at a time when there is more data available about the current state of the industry, and the overall economy, than ever before.
This flood of data is coming from multiple sources, public and private, and is giving contractors greater, and more immediate, insights into the state of the industry and how covid-19 is impacting demand and operations. While none of this data can predict the future, it gives contractors far greater — and more timely — insights into market conditions that will facilitate making key decisions about whether to make new capital investments, how many workers to employ and which market segments to pursue or flee.