2023 CIRT Index: First Quarter
The CIRT Sentiment Index turned upward in the first quarter of 2023 after five consecutive quarters of decline. The overall index score rose slightly to 53.3 from 51.0. The Design Index, however, increased strongly from last quarter, climbing to 66.8 from 57.1.
Index components illustrate improving sentiment toward the U.S. economy, the local economies where CIRT members operate, and the overall nonresidential sector. Conversely, sentiment declined across backlogs and members’ optimism toward their construction operations and productivity. Growing optimism is most apparent in health care, while transportation, manufacturing, industrial, heavy civil and public works all remained stable or improved from last quarter.
CIRT members were asked this quarter to respond to current issues questions focused on backlogs, capacity and hiring goals, policy impacts on revenue and business planning, and top risks for 2023.
Download the full report for insights and market expectations from CIRT members.
