On a webinar covering the results of the survey last week, which canvassed 1,300 construction firms in November and December, contractors lamented the difficulty of finding new projects and the challenges of keeping the ones they already have on track due to COVID-19 mitigation and productivity losses. “2021 looks to be a difficult year for many construction firms,” said Stephen Sandherr, AGC’s CEO, during the webinar. “The pandemic is prompting many projects to be postponed or canceled, forcing contractors to take longer to build projects and increasing the cost of construction.” Ken Simonson, chief economist for AGC, said the net reading of most construction categories — the percentage of contractors who expected the dollar value of projects to shrink versus expand — was overwhelmingly negative. Simonson said that 44% of firms reported they had projects canceled in 2020 that had not been rescheduled, and that companies anticipate a continued bloodletting in 2021.
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