2020 CIRT Sentiment Index: Second Quarter Report
The second quarter of 2020 survey results suffered a significant tumble in both the CIRT Sentiment Index and the Design Index. The CIRT Sentiment Index experienced an unprecedented plunge from 63.6 to 21.6, with the Design Index seeing a similar drop from 62.7 to 39.8, indicating fewer opportunities are likely in the coming quarter(s). This historic decline appears to manifest the duel concerns of fear and uncertainty driven by the global pandemic, COVID-19, alongside corresponding market disruptions and volatility. Though many hope a government stimulus can help alleviate some of the losses, an economic recession appears to be very possible, if not an imminent threat.
This quarter our current issues questions address impacts on the various economic disruptions seen over the past few weeks (including COVID-19, depressed oil prices and market volatility). Open-ended comments pointed to a common theme related to the significant uncertainty COVID-19 was causing throughout the industry. Many found ongoing difficulty in keeping up with a range of local- and state- restrictions. Geographic impact points to hardship across the Northeast and West. Sector performance suggests short- and long-term resiliency in institutional and infrastructure segments.
