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News » US » AGC summarizes likely storm and flood impacts on construction » published 13 Sep 2017

AGC summarizes likely storm and flood impacts on construction

A report by Associated General Contractors of America (AGC) has outlined the possible impacts on construction of the recent hurricanes.

AGC chief economist Ken Simonson predicted that the net results will include selectively higher materials and labor costs but little change in overall spending.

In his examination of US construction spending, labor and materials outlook he said that there will be Immediate demand for plywood, wallboard, laborers and trucks. He pointed to increased demand for new single- and multi-family housing; as well as reconstruction of commercial, public buildings, infrastructure.

But most rebuilding will take years to get funding, design and regulatory approvals, he said. Meanwhile, businesses and individuals who would have built will end up canceling or deferring projects that they can’t afford or don’t need; as a result public money will be reallocated, he predicted. This will result in the selective increases in costs but little change in spending, he said.

 

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This article was published on 13 Sep 2017 (last updated on 13 Sep 2017).

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