The construction industry continues to be stuck in a major recession, and, for most firms, the end is not in sight. But the latest ENR Construction Industry Confidence survey shows some industry leaders sense that mid-2010 may show the beginning of some relief from the drought.
The ENR Construction Industry Confidence Index (CICI) for the third quarter shows that executives from 640 construction firms believe the recession is still deep and improvements in the market will not come for another 12 to 18 months. The index for the third quarter stands at 32 on a scale of 100. This is a two-point increase over the previous quarter’s level of 30 and a seven-point improvement over ENR’s first-ever CICI of 25.