Construction in the US isprojected to drop by 6.5% this year due to the pandemic, accordingto GlobalData.
The UK-based data and analyticsfirm also has forecast a 6.6% fall in construction output for allof North America this year, which is equivalent to a lossof $122.4 billion in projects. Before the coronavirus outbreak, constructionin North America was expected to increase by about $12billion.
Canada is projected to see a 7%decline in construction output "owed in part to the collapse inglobal oil prices," stated Dariana Tani, a London-based economistat GlobalData.
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Phillip Bantz
Phillip Bantz is a reporter for Corporate Counsel. Follow him on Twitter @PhillipBantz.
