Sales of heavy-side building materials slumped in second quarter as the #economy and #construction slowed https://t.co/pplGGi8LWG #MineralProducts #MPAEconomics pic.twitter.com/Y9Yva0KPxQ— Mineral Products Association (@MineralProduct) August 3, 2020
The MPA reports the impact of lockdown has been worse than the global financial crisis of 2007–2008. In contrast to the views of LafargeHolcim's CEO, who reckons the 'coronavirus tsunami' has passed:
Aurelie Delannoy, Director of Economic Affairs at the MPA, cautioned that the contraction seen so far only reflects the direct impact of the lockdown during April and May, not the overall impact of the pandemic and resulting macroeconomic weaknesses. “While there has been a gradual pick-up in activity since mid-May in England and Wales, much of this reflects post-lockdown pent-up demand. The industry therefore remains concerned about the shape, speed and resilience of the recovery over the next few months, particularly order books throughout the autumn and into the winter.”
