The construction industry has been expecting a turnaround in the market for the past three years, but just when sentiment starts to improve, fate steps in to thwart an upswing. Most recently, industry executives said that, once the national elections were decided in November, there would be more clarity on the direction of the market. With the results behind us, industry still is waiting for a sign that a market uptick is near.
The most recent ENR Construction Industry Confidence Index survey reflects this continuing uncertainty. The fourth-quarter 2012 CICI remained unchanged at 50 points 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 or beginning of 2014, if then.