The global pandemic is expected to keep pressure on profit margins in the North American industrial sector in the coming months, according to a new survey from RICS and the Association for the Advancement of Cost Engineering.
The COVID-19 crisis has had a significant impact on the construction sector, according to respondents participating in the second quarter US Construction Monitor, part of the North American Construction Monitor.
Respondents reported payment delays, in addition to dips in profits and in new business inquiries, the organizations said. Profit margins are expected to be squeezed as construction costs are projected to exceed tender prices, the groups said.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Mike Scarcella
Mike Scarcella is a senior editor in Washington on ALM Media's regulatory desk. Contact him at [email protected]. On Twitter: @MikeScarcella. Mike works on a slate of newsletters: Supreme Court Brief | Higher Law | Compliance Hot Spots | Labor of Law.
