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USG + U.S. Chamber of Commerce Commercial Construction Index - 2017 Q3
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.
Contractors in the U.S. commercial construction industry remain optimistic about the current state and forward-looking health of the sector, despite some minor changes in the three key indicators used to compute the USG Corporation + U.S. Chamber of Commerce Commercial Construction Index (CCI)—backlog levels, new business opportunities and revenue expectations.
The final result is a Commercial Construction Index score of 73.
Key Drivers of Contractor Confidence
The ratio between actual and stated ideal backlog remains quite positive in Q3, with the current average of 9.5 months of backlog relatively close to the stated ideal level of 12 months.
Contractors have high confidence in the market’s ability to provide new business for the next 12 months, returning to the same level reported in Q1.
Most contractors currently believe that they will see revenue growth in the next year, but slightly fewer report this compared with the Q2 2017 report.
Read the 2017 Q2 report here.