The market recession has severely tested the confidence of the normally optimistic construction industry. Four years of struggling markets have taken a toll. However, the slow-but-steady recovery of the U.S. economy has many firms in the industry now believing that the worst is behind them and that a broad recovery is poised to begin.
The recovery of the industry’s optimism can be seen in the most recent ENR Construction Industry Confidence Index survey. The first-quarter 2012 CICI rose to 58 on a scale of 100, up 16 points from 42 in the last quarter. (A CICI rating of 50 would represent a stable market.) The 464 executives of large construction and design firms responding to the survey believe the market has stabilized and is beginning to show signs of recovery.