Dec. 23, 2019 – Associated General Contractors (AGC) Chief Economist Ken Simonson is looking ahead to 2020. Despite staffing challenges, contractors are optimistic, on balance, regarding their hiring plans and the volume of work available in 2020 for nonresidential and multifamily construction, based on a survey that AGC just released. Respondents were asked whether the available dollar volume of projects they compete for would be higher or lower than in 2019. For all 13 categories of projects, between 27% and 36% of respondents expect a higher volume, while 10% to 21% expect a lower volume. (The remainder expects the volume to remain about the same.) The difference – the net reading – ranged from 25% positive for water and sewer construction down to 8% for private office construction. On balance, respondents were more optimistic than in the 2019 outlook survey for multifamily, infrastructure and institutional categories but less upbeat than before for other nonresidential building segments, Simonson said.
Simonson Said
