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.
In Q4, contractors in the U.S. commercial construction industry report ongoing optimism about the current state and forward-looking health of the sector.
Minor changes are evident in the 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—but contractor beliefs about revenue forecasts are the only driver of confidence that rose this quarter.
The final result is a Commercial Construction Index score of 74.
Key Drivers of Contractor Confidence
The ratio between actual and stated ideal backlog is at 75 in Q4, with the current average of 9.4 months of backlog relatively close to the average stated ideal level of 12.5 months.
Contractors have high confidence in the market’s ability to provide new business for the next 12 months, equal with the level reported in Q3.
Most contractors believe that they will see revenue growth in the next year, an increase from Q3.