Understanding how top E&C executives view the outlook for construction and design can offer critical planning insights in 2024. Both the CIRT Sentiment and Design Indices fell in the fourth quarter, indicating top CEOs are tempering their outlooks for the near future.
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The fourth quarter Heavy Civil Construction Index showed its first decline since the second quarter of 2022 across all four measures tracked. Discover our sector-specific insights.
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Get the sector-specific insights you need to manage your building products company and understand trends in the industry.
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The CIRT Sentiment Index improved in the third quarter, rising to 59.7 from 52.8 in the second quarter. The design index remained constant in 68.5. This quarter's questions on current issues focused on labor productivity and project staffing requirements.
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Discover Jay Bowman's latest economic insights in this presentation on our second quarter 2023 outlook.
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The talent cliff if looming, with 93% of construction industry respondents saying they're having trouble finding qualified talent. Discover more insights into the state of E&C industry talent.
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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 […]
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The CIRT Sentiment Index turned upward in the first quarter of 2023 after five consecutive quarters of decline, while the Design Index increased strongly from last quarter. Index components illustrate improving sentiment toward the U.S. economy, the local economies where CIRT members operate, and the overall nonresidential sector.
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CIRT Sentiment Index scores were down slightly for the fourth quarter but remain mostly in line with last quarter’s results. The overall index score fell to 51.0 from 51.4, and the Design Index fell to 57.1 from 59.4. This report represents the fifth consecutive quarterly decline from third quarter 2021 highs.
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The 2022 fourth quarter Heavy Civil Construction Index rose to 50.8 from 48.4 and returned to expansionary territory. Expectations for the overall U.S. economy and local economies where respondents conduct business improved, but remain mostly pessimistic. This quarter current issues focused on backlog sensitivity, project start delays and alternative procurement opportunities.
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