International ratings Agency Moody’s downgraded the global construction sector due to pandemic coronavirus. About it reports RIA Novosti with reference to the news Agency.
According to analysts, revenues of construction companies would decrease in 2020. The failure of business builders at the same time provoke several factors: the spread of coronavirus infections, worsening prospects for the global economy and lower oil prices. “We have changed our Outlook on the world construction sector to negative”, — quotes Agency the extract from the message of Moody’s.
Experts predict a significant decline in activity in the sectors of housing, private and non-residential construction in the United States. “In the same way across Europe restrictions and social distance increase the risk of delays, cancellation of projects,” — analysts stress. The problem will affect Australia, in China, according to Moody’s, the construction activities have already resumed, that the Chinese will allow the builders to recoup a large part of the lost revenue before the end of 2020.
Earlier in April, it was reported that during the period of self-isolation of coronavirus in Russia can be suspended implementation of about a third of all residential projects. Representatives of the industry in the first place are predicting big problems for weak developers. Irregular supply of materials has already begun, in addition, developers are suffering due to the decline in sales of apartments.
