• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer

Groundbreak Carolinas

MENUMENU
  • News
  • Careers
  • Resources
    • 2020 ABC of the Carolinas EIC Awards
    • AEC Industry Blogs
    • AEC School Directory
    • Asbestos Resources
    • Content Marketing
    • Coronavirus Resources
    • Diversity and Inclusion
    • Economic Forecasts
    • GroundBreak Carolinas Newsletter Archive
    • Health and Wellness
    • New Silica Standard Resources
    • Workforce Development Resources
  • Subscribe

GroundBreak Carolinas

Your source for construction industry news in the Carolinas

MENUMENU
  • Featured
  • Business
    • Accounting
    • Government Affairs
    • Management
    • Human Resources
    • Finance, Bonding, & Insurance
    • Leadership
    • Marketing & BD
    • Operations Management
    • Legal
    • Risk Management
    • Technology
  • Markets
    • Commercial
    • Distribution / Warehouse
    • Government Facilities
    • Health Care
    • Hotels / Hospitality
    • Industrial/Manufacturing
    • Mission Critical / Data Centers
    • Residential/Multi-Family Residential
    • Office Buildings
    • Power / Energy
    • Retail / Shopping Centers
    • Roads, Bridges and Highways
    • Schools (K-12 and Higher Education)
    • Strategy
  • Workforce
    • Apprenticeships
    • Education
      • Colleges
      • High Schools
      • Technical Schools
    • Recruiting
    • Safety
    • Training
    • Veterans Programs
  • Operations
    • Architecture
    • Contracting
    • Energy
    • Engineering
    • Equipment
    • Facilities
    • Products
  • Projects
  • People
  • Economic Development
  • Partners
  • News
  • Events
  • Careers
  • Resources
    • AEC Industry Blogs
    • AEC School Directory
    • Asbestos Resources
    • Content Marketing
    • Coronavirus Resources
    • Economic Forecasts
    • GroundBreak Carolinas Newsletter Archive
    • New Silica Standard Resources
    • Workforce Development Resources
  • Let’s Talk Construction

Business

Deloitte: 2021 Engineering and Construction Industry Outlook

by Deloitte on February 27, 2021

Consulting firm Deloitte recently released its outlook on the industry.

The construction industry added more than $900 billion to the US economy in the first quarter of 2020—its highest level since the 2008 recession. It employed 7.64 million people in February 2020, also the highest levels since 2008. Then, COVID-19 reached the United States, causing the industry to lose $60.9 billion in GDP and decreasing total jobs to roughly 6.5 million, effectively wiping out two years of GDP gains and four years of job gains.

The E&C industry, however, learned from the 2008 recession and was well-positioned to weather this economic shock. It had better control over its leverage and credit and created a buffer through additional cost savings. However, industry performance during the remainder of 2020 has been mixed. Some E&C companies were more exposed to COVID-19–affected segments (like retail and hospitality), while others were not able to capitalize on technology advancements. Most E&C companies continue to face sustained cost and margin pressures. Additionally, despite strong order books, companies are experiencing challenges such as project delays and cancellations, as well as difficulty obtaining permits. In addition, increases in the procurement costs of materials and equipment continue to stymie many E&C companies.

The good news is that there are reasons to be optimistic for the future of the engineering and construction industry. Connected technologies and an increase in associated investments may help firms realize new operational efficiencies. New business models and an increase in M&A activity are further accelerating the shift toward digital transformation in engineering and construction, as well as operational efficiencies. Also, E&C companies are likely to help other industries unlock the future of workplace solutions.

Read Report

Topics: Business
Deloitte, Engineering and Construction

Primary Sidebar

What We’re Reading

  • Heddle Hill rezoning denied: Greenville County Planning Commission notes
    Source: Greenville Journal Published on May 30, 2025
  • N.C. lowers revenue forecast amid recession concerns
    Source: Business North Carolina Published on May 29, 2025
  • New toolkit highlights rural N.C. community college partnerships in advanced manufacturing
    Source: Business North Carolina Published on May 29, 2025
  • Truist names ex-Morgan Stanley exec to board
    Source: Business North Carolina Published on May 29, 2025
  • Novo shares sink amid obesity drug competition
    Source: Business North Carolina Published on May 29, 2025

Recent Posts

  • Design-Build for Manufacturers: Collaboration is King
  • Senior Executives and Young Leaders Give Firsthand Advice to New Graduates Entering AEC Industry
  • Tariffs and the Transformation of Construction Financing and Delivery
  • Optimism and Opportunity: SCEDA’s 2025 Conference Highlights South Carolina’s Economic Momentum Amid Uncertainty
  • Western NC Construction Career Day Draws 600 High Schoolers: Inspiration for a Resilient Region
  • Search
  • News
  • Careers
  • Resources
    • 2020 ABC of the Carolinas EIC Awards
    • AEC Industry Blogs
    • AEC School Directory
    • Asbestos Resources
    • Content Marketing
    • Coronavirus Resources
    • Diversity and Inclusion
    • Economic Forecasts
    • GroundBreak Carolinas Newsletter Archive
    • Health and Wellness
    • New Silica Standard Resources
    • Workforce Development Resources
  • Subscribe

Footer

  • About GBC
  • Contact Us
  • Submit Editorial
  • Submit Event
  • Partnerships/Contributors

Sponsorship Opportunities

Join Our Mailing List

"*" indicates required fields

Name*
By clicking Submit you agree to our Privacy Policy and Terms of Use.
This field is for validation purposes and should be left unchanged.

Copyright © 2025 GroundBreak Carolinas LLC.

  • Privacy Policy
  • Terms of Use