Construction Economics and Productivity

Boosting construction’s productivity is key to supporting the world’s wider economic recovery, and with low productivity and low margins, the construction sector has poor resilience to weather the immediate and long-term consequences of COVID-19 on the economy as more current research has established. Last year, the office of the national statistics stated that construction productivities have suffered with output falling by 18.2% before April 2020 and further reduction in new work by 19.4% with decline in repair and maintenance work, and the future looks gloomy for the industry despite the improvement experienced in August 2020 with 17.5% increase in new work. However, the increase has not helped to reduce the unemployment figure in the construction industry, putting many industry players under pressure whilst others involved with construction have started to consider, if the industry is sustainable with just 3% output. Navigating these economic consequences as well as addressing the effects of COVID-19 in an industry already struggling will be the industry’s major priority if we are to balance demand needs with the supply. This sub-theme invites paper that addresses both micro- & macro- economic aspects that impacts on construction productivity.

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