The threat of a looming coronavirus pandemic is already affecting world markets. If you get your construction materials from China, it could affect your construction supply chain. Some general contractors have already experienced a backlog in getting materials, according to a report by BisNow.
A disrupted China-based labor and materials supply has already impacted construction work in China, according to Engineering News-Record. Work there has slowed, and, as a result, Hong Kong’s construction industry has already laid off 50,000 workers.
“The coronavirus is showing itself to be a potentially serious risk to the Chinese economy, and it is safe to assume that economic growth in China will be impacted both this quarter and next,” Richard Branch, chief economist at Dodge Data & Analytics, told ENR.
Other market analysts interviewed by ENR remained optimistic, provided the virus is contained. Read the full reports on BisNow and ENR.
https://www.bisnow.com/national/news/construction-development/coronavirus-construction-impact-103085
https://www.enr.com/articles/48595-supply-chain-impacts-seen-as-china-coronavirus-spreads