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 two points to 74. This key driver is the closest of the three to its pre-pandemic score of 76 in Q1 2020.
Revenue expectations for the next 12 months held steady this quarter at 61. This score remains 10 points below a pre-pandemic level of 70 for Q1 2020.
Contractors’ confidence in the ability of the market to provide new business in the next 12 months grew, moving up two points to 64. This score was 76 in Q1 2020 before the pandemic.