As the president of the United States of America, Donald Trump announced that the general social distancing as the form of protection from the COVID-19 will be prolonged at least until the end of April. The decision was made based on the statistics predicting peaks and dips of the infection outbreak. At the same time, many analysts are fearing that the industry of construction will be sidelined by the end of 2020. As a response to negative predictions from some analysts, Keith Prather, a market intelligence expert for Olathe, Kansas-based business management consulting firm Pioneer IQ, created a way to predict the near future of the current crisis.
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What Impact Will the COVID-19 Crisis Leave on the US Economy?
According to a presenter at the Design-Build Institute of America webinar held during the first days of April, the industry of construction will recover rather “sooner” than later. Some analysts are implying that the crisis will keep the construction businesses sidelined by the beginning of 2021 and perhaps even later from that point on. As a response, Prather created the Fear and Recovery Curve model that could help us predict the peaks of crisis, as well as its receding. Prather’s prediction speaks in favor of the US economy and the ability to have everything back to normal. However, his scenario includes finding a successful treatment for COVID-19 in the next few weeks.
Finding Treatment for COVID-19 Should Annulate the Effects of Crisis
As Prather showcased with the Fear and Recovery Curve model, the US economy has more chances to recover sooner rather than later in case the treatment for COIVID-19 would be found and used on patients in the next two to three weeks. The treatment would reduce the COVID-19 related mortality rate in the US. At the same time, this case scenario would allow some parts of the US to start the recovery process. The construction industry could, in that case, restart a majority of delayed projects without suffering from additional costs and losses in profit.
