Costing Steelwork 14: Market update

Costing Steelwork is a series from Aecom, BCSA and Steel for Life that provides guidance on costing structural steelwork. This quarter provides a market update and updates the five cost models previously featured in Costing Steelwork

Large impacts to economies and domestic industry sectors are now evident. For how long they continue and the shape of the route out of this downturn is the principal economic question. Hopes for a V-shaped recovery are waning but not entirely gone. But the longer that economic and construction activity remains subdued, the more the realisation grows that a recovery will probably take a different shape.

UK business sentiment indicators plummeted at historic speed as lockdown descended across the UK. Early estimates and assessments of the UK’s GDP annual growth rate dipped to -1.6% in Q1 of 2020. Further deterioration in this metric is expected for Q2 2020, once ONS data is available.

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