By: Peter Kusnic, on December 14, 2020
2020 held no punches. As Covid-19 swept the globe in March, many businesses entered fight or flight mode as the pandemic wrought sudden, sweeping change on the market environment:
- Essential businesses like mass retailers and manufacturing facilities had new safety and sanitation guidelines to consider, while non-essential businesses, including bars and sit-down restaurants, were forced to either adapt or shut down, many for good.
- Unemployment soared and consumer spending sank, roiling markets and causing major global economies to slide into recession.
- Though construction activity was able to continue uninterrupted for the most part, investment dried up, causing many commercial building projects to stall even as residential building construction spending spiked.
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