2020-01-07 | Construction Forecasts for 2020

At the beginning of each year, industries specializing in construction and development check annual forecast. Business tendency charts in the construction industry help to prepare the industry for the new season and to anticipate possible difficulties possible to happen during the upcoming months.
Forecast factors often include changing prices of materials and services, the financial status of future clients, the number of anticipated investments as well as changing regulations.
For several years, the boom in construction in the winter has been negative, which is not a good sign for the rest of the year. Despite the fact that since 2017 in the spring and summer period the indicators have been rising, it is still not a favorable growth which can be seen when comparing the years from 2004 to 2008. These were the times of the only upward, positive and fairly high level economic situation.
Experts predict that 2020 will not be bad but the slowdown in growth and development of the construction industry will be perceptible. The biggest problem for construction companies is not the lack of orders, but the conditions for the implementation of investments due to the increase in the prices of building materials and contracts for projects that were signed before the price increase. Also a problematic feature of 2020 is the introduction of payments in the split payment system and the increase in the minimum wage. Still, the biggest negative signal for companies is an increase in late payments for completed works and a decrease in employment relative to the increase in prices of construction and assembly works.

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