Despite the uncertainty caused by COVID-19, there are reasons to stay optimistic about the remainder of 2020.
As an essential industry, road construction in many states has been accelerated to take advantage of improved efficiency due to reduced traffic. This will be a significant economic driver for the aggregate industry. Also, the shift to remote working increased demand for data storage capacity, which fuels data center construction.
Unlike the Great Recession of 2008-09, the residential market was balanced before the shutdown. As the U.S. economy reopens from the pandemic, residential construction is expected to recover quickly, driven by a desire to take advantage of historically low interest rates. These factors should keep us strong through 2020.
Charlie Windle is vice president of the Northern Region at Luck Stone, which is headquartered in Richmond, Virginia.
Editor’s note: As part of our Road to Recovery coverage, P&Q is turning to some of the industry’s leaders for their takes on the road ahead. Leaders such as Windle were posed with the following question: As you look to the remainder of 2020, what factors give you reason for optimism about the aggregate industry?
