It has not been an easy five years for the construction industry. The recession of 2008 hit nearly every market sector and region in the country. Recovery has been slow. For years, forecasters have searched in vain for signs that the worst of the recession is in the rearview mirror.
The most recent ENR Construction Industry Confidence Index survey may be that sign. It shows the industry believes the market has turned a corner and is beginning, in fits and starts, to recover in a broad way. The second-quarter 2013 CICI rose to a record 69 points on a scale of 100, which represents a growing market. The vast majority of the 310 executives of large construction and design firms responding to the survey believe the market has stabilized. Only 11% believe the market is currently in decline, while 46% believe it is growing.