ARTICLE
According to FMI, CIRT Sentiment Index scores rose in the first quarter after five consecutive quarters of decline and the Design Index showed strong improvement. Respondent optimism climbed for the local economies where they are conducting business, but turned pessimistic for backlogs, cost of labor and productivity. Key findings on current issues include: 50% of members reported their labor force is low relative to backlog needs. 90% of CIRT members have at least 12 months of work planned. 48% of respondents said the top risk for 2023 is the limited supply of skilled workers and craftworkers. Index components illustrate improving sentiment toward the U.S. economy, the local economies where CIRT members operate, and the overall nonresidential sector. Conversely, sentiment declined across backlogs and members’ optimism toward their construction operations and productivity. Growing optimism is most apparent in health care, while transportation, manufacturing, industrial, heavy civil and public works all remained stable or improved from last quarter. Click here to request a copy of the Q1 Index report.
According to FMI, CIRT Sentiment Index scores rose in the first quarter after five consecutive quarters of decline and the Design Index showed strong improvement. Respondent optimism climbed for the local economies where they are conducting business, but turned pessimistic for backlogs, cost of labor and productivity.
Key findings on current issues include:
Index components illustrate improving sentiment toward the U.S. economy, the local economies where CIRT members operate, and the overall nonresidential sector. Conversely, sentiment declined across backlogs and members’ optimism toward their construction operations and productivity. Growing optimism is most apparent in health care, while transportation, manufacturing, industrial, heavy civil and public works all remained stable or improved from last quarter.
Click here to request a copy of the Q1 Index report.