2023 Heavy Civil Construction Index: First Quarter
The first quarter 2023 Heavy Civil Construction Index (HCCI) rose slightly to 51.3 from 50.8 in the prior quarter. Three of the 4 economic measures showed improvement, while respondents’ views on engineering and construction where they do business receded. Additionally, sentiment remained strong and improved for backlogs while labor costs, material costs and productivity all continue to pose challenges into early 2023.
Key findings include:
- 62% of respondents report their backlogs are higher this quarter compared to a year ago.
- 78% of respondents indicate that their margins are the same or better than they were one year ago.
- 67% of respondents report an increase in competitors, which is up slightly from last quarter.
Download the full report to see all of our heavy civil sector insights.
