Data Bulletin: Impact of COVID-19 on Construction Businesses and Productions
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2020/11/01
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Journal Article:Impact of COVID-19 on construction businesses and productions
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Description:This issue focuses on the economic impact of COVID-19 on the construction industry through September 2020, examining construction spending, new residential construction, and the well-being of small businesses. Key Findings: 1. U.S. GDP dropped 31% in the second quarter of 2020 and increased 33% in the third quarter, the largest quarterly fall and rise ever recorded. 2. Residential construction was hit harder than other construction subsectors: spending dropped by $49.5 billion from January to May and surged by $71.3 billion from May to September. Over 60% of the fluctuation was in single-family home construction. 3. The impact of COVID-19 on construction businesses reduced after lockdowns lifted, with 16% reporting a large negative effect in October compared to 33% in April. 4. Construction businesses with less than five employees were more likely to report a large negative effect of COVID-19, yet less likely to receive federal financial assistance. [Description provided by NIOSH]
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Source:CPWR Data Bulletin. Silver Spring, MD: CPWR-The Center for Construction Research and Training, 2020 Nov; :1-6
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Pages in Document:6 pdf pages
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NIOSHTIC Number:nn:20061749
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Contact Point Address:Xiuwen Sue Dong, CPWR-The Center for Construction Research and Training, 8484 Georgia Avenue, Suite 1000, Silver Spring, MD 20910
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Email:SDong@cpwr.com
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Federal Fiscal Year:2021
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Performing Organization:CPWR - The Center for Construction Research and Training, Silver Spring, Maryland
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Peer Reviewed:False
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Main Document Checksum:urn:sha-512:06d43c442f2dcb4551ad58e54ecba908a90ed914b31ab95fbb374e7025ab9f637437b797b2cde36300e36161ca67bd43e9b2ace25f174ad275ddd1e8f5a15292
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English
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