Commercial Construction Index Falls to Lowest Level Ever
(March 27, 2019)
- The U.S. Chamber/USG quarterly Commercial Construction Index, fell three points to the lowest level since the survey began in the first quarter of 2017. In Q1 2019, all three key drivers of confidence—backlog, confidence in new business and anticipated revenue—declined for the first time in the survey's history. Confidence in new business suffered the largest drop (five points), but this may be due to concerns about the overall health of the economy and the federal government shutdown. Overall, the sector remains healthy, with more modest drops in backlog (three points) and revenue (two points). Anxiety about the impact of material cost fluctuations dropped notably, suggesting that these concerns may be easing somewhat. The online survey was conducted in January by Dodge, using a panel of more than 2,700 decision makers that includes general contractors, construction managers, design-builders and trade contractors.