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 report overall optimism about the construction market in Q3 2018. This comes despite contractors’ ongoing challenges with skilled workforce availability and tariff-related concerns. The score increase (to 75) is likely driven by positive changes in backlog figures since Q2 2018.
Key Drivers of Contractor Confidence
The ratio between actual (10.3 months) and stated ideal (12.7 months) backlog is 81, the highest since the Index began tracking this data in Q1 2017.
Contractors still have high confidence in the market’s ability to provide new business opportunities in the next 12 months, within one point of last quarter.
Most contractors believe they will see revenue growth in the next 12 months, but fewer report an increase in this quarter compared to Q2.