September 17, 2019
The USG + U.S. Chamber of Commerce Commercial Construction Index (CCI) is a quarterly economic index designed to gauge the outlook for, and resulting confidence in, the commercial construction industry.
Recognizing a need to highlight the important contributions of this sector to the nation’s economy, USG Corporation and the U.S. Chamber partnered to produce this first-of-its-kind index.
Each quarter, contractors across the country are surveyed in order to better understand their levels of confidence in the industry and top-of-mind concerns.
The Commercial Construction Index (CCI) rose three points in Q3 2019 to 77, a record high score.
Key Drivers of Contractor Confidence
The ratio between the average actual (10.2 months) and stated ideal (12.5 months) backlog is 82, retaining the improvement seen in Q2 2019.
Contractors’ optimism continued to grow another two points since Q2 2019, demonstrating belief in a robust market for buildings.
For the first time since Q1 2018, revenue has increased quarter-over-quarter, no doubt contributing to the overall confidence expressed in this quarter’s study.