The 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, the U.S. Chamber produced 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.
Key Drivers of Contractor Confidence
The ratio of average current to ideal backlog rose to 70 in Q4 from 68 in Q3. This key driver is the closest of the three to its pre-pandemic score of 76 in Q1.
Revenue expectations for the next 12 months increased four points to 52 in Q4. This score was 70 in Q1 before the pandemic.
Contractors’ confidence in the ability of the market to provide new business in the next 12 months inched up one point to 57 in Q4. This score was 76 in Q1 before the pandemic.
CCI Coming Soon on Inside the Blueprint
Don’t miss the U.S. Chamber’s Executive Vice President and Chief Policy Officer Neil Bradley discussing the latest CCI findings and the future of the commercial construction industry on Inside the Blueprint, airing in February 2021. More details to come.