With the American presidential election less than two months away, the construction industry has taken a wait-and-see attitude about the markets. Many top construction executives believe the market will stay in a holding pattern until the election results come in and the new administration's spending and regulatory priorities and the direction of the economy become clear.
The most recent ENR Construction Industry Confidence Index survey shows the industry's uncertainty. The second-quarter 2012 CICI fell six points from the first quarter to 50 on a scale of 100, which represents a flat market. The 378 executives of large construction and design firms responding to the survey believe the market will not begin to show signs of growth until the end of 2013.