The CIRT Sentiment Index is down slightly in the second quarter of 2023, falling to 52.8 from 53.3 in the first quarter. The Design Index rose to 68.5 from 66.8 in the first quarter, indicating there is slightly more optimism about projects that haven’t reached the construction phase.
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The Heavy Civil Construction Index improved in the second quarter, rising to 55.5 from 51.3, the second consecutive increase this year.
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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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Even though the industry was hit with economic headwinds last year, CM firms remained resilient with the headline "demand is strong" resonating throughout the sector. Looking ahead, the threat of a recession still looms. However, there are reasons to be optimistic such as IIJA funding coming online and strong CM demand in other end markets.
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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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Learn what top executives see as the biggest risks for 2023 in the latest FMI/AGC risk survey.
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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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Stakeholders are increasingly reliant on technical experts as they tackle transformative challenges like the energy transition and facility optimization. As a result, there’s a growing interest from existing service providers and outside investors in companies specializing in technically based consultancy services. Learn more about the winners of this moment.
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