Building materials prices have been recovering in the last 1-2 years, only to suffer the current whammy. The SG government's playbook to "fight recessions" is to actually create or accelerate more public building projects. With increasing more foreign workers on lock-down, it is going to take some time for the mechanism to work..
Construction to suffer double-digit knockdown from Covid-19 pandemic
AS THE novel coronavirus pandemic continues to unfold, the construction industry is expected to be hammered, with economists looking at further double-digit contraction.
"Unfortunately, the construction sector will take a big hit in Q2 2020 from the Covid-19 pandemic - first from the one-month circuit breaker and the rising infections/quarantines at foreign workers dormitories, as well as the demand shock arising from weak business and consumer confidence amid recessionary fears which could impact private sector demand for real estate," said Selena Ling, OCBC Bank chief economist.
https://www.businesstimes.com.sg/governm...9-pandemic
Construction to suffer double-digit knockdown from Covid-19 pandemic
AS THE novel coronavirus pandemic continues to unfold, the construction industry is expected to be hammered, with economists looking at further double-digit contraction.
"Unfortunately, the construction sector will take a big hit in Q2 2020 from the Covid-19 pandemic - first from the one-month circuit breaker and the rising infections/quarantines at foreign workers dormitories, as well as the demand shock arising from weak business and consumer confidence amid recessionary fears which could impact private sector demand for real estate," said Selena Ling, OCBC Bank chief economist.
https://www.businesstimes.com.sg/governm...9-pandemic