On December 3, 2020 the Associated General Contractors of America presented their economic outlook for the industry. AGMA members will receive a copy of that presentation via email when it becomes available. In the meantime, view the slide presentation here.
Slower population growth means slower demand growth for most construction
• Permanent shift from retail to e-commerce/distribution structures
• More specialized and online healthcare facilities; fewer hospitals, nursing homes
• Continuing demand for K-12 but much less for higher ed construction
• Demand for restaurants should revive sooner than hotels, travel-related construction
• Not clear if offices will decentralize or remain in less demand
• No sign of change yet in urban/rural or state-to-state trends