2023 Heavy Civil Construction Index: Third Quarter
The third quarter 2023 Heavy Civil Construction Index rose to 56.1 from 55.5, marking the third consecutive increase. All four economic measures showed improvement in sentiment, with respondents’ views on the overall U.S. economy showing the largest increase.
Key findings on current issues include:
- 47% of contractors responded that they are adding backlog quicker than they are burning it.
- 69% of respondents indicated a slight or significant increase in bid prices.
- Nearly two-thirds of contractors reported their margins were higher than this time last year, up from 37% last quarter.
