2024 Civil Infrastructure Construction Index: First Quarter
The 2024 first quarter Civil Infrastructure Construction Index (formerly Heavy Civil Construction Index) increased to 55.4 from 52.6, marking the sixth consecutive quarter of anticipated and ongoing sector expansion. Three out of four economic measures strengthened, including the outlook toward the overall U.S. economy, the economy where respondents do business, and their engineering and construction (E&C) business.
Key findings include:
- More than half of the respondents indicated that their backlogs are higher this quarter compared to a year ago.
- Despite growing backlogs, contractors surveyed continue to report a competitive market, with nearly three quarters of respondents (72%) citing an increase in competitive pressures.
- Contractors continue to expect that most heavy civil segments will strengthen through next quarter.
