2024 Civil Infrastructure Construction Index: Second Quarter
The 2024 second quarter Civil Infrastructure Construction Index (CICI)* increased to 56.9 from 55.4, marking the seventh consecutive quarter of anticipated and ongoing sector expansion.
All four economic measures increased, and contractors continue to expect more growth in the heavy civil segments through the next quarter.
Key findings include:
- 71% of respondents said that backlogs are either at or higher than what is needed or anticipated at this point in the year.
- Despite growing backlogs, contractors in the survey continue to report a competitive market, with almost three-quarters of respondents (72%) citing an increase in competitive pressures.
- 82% of respondents indicated that margins on work acquired this quarter are the same or better than they were one year ago.
*Formerly named Heavy Civil Construction Index. Methodology remains unchanged.
