The global construction industry is well into its COVID-19 recovery, spending-wise, from a low point in the first half of 2020 as the pandemic shut down construction sites and economies contracted sharply. While the industry is recovering, developed and developing countries are doing so at different rates.
Construction output in the U.K. fell almost 11% from May to July, before beginning to rebound. Richard Hill, a senior director in Currie & Brown’s London office, says that while the industry is recovering, health and safety regulations that require social distancing measures are impacting productivity, with sites generally operating at no more than 80% efficiency.