Labor Shortages, Tariffs and Brexit Remain Key Concerns
Looking to 2020, the anticipated theme of the global economy is uncertainty, as countries around the world wait for clarity over future trading arrangements. Construction activity will slow as long as these geopolitical discussions linger.
Trade relationships are shattered across the world, and manufacturers are paying the price. In the U.S., we are seeing contractors willing to hold material quotes for only 20 days due to pricing volatility. With U.S.-imposed tariffs undergoing continuous revisions, some owners are postponing projects in the hope that tariffs will be lifted and steel and aluminum prices will drop. We anticipate this “wait and see” trend will continue as owners await developments in trade discussions between the U.S. and China and the result of the 2020 presidential election.