Maybe it is the gains on Wall Street. Maybe it is the recent midterm elections. Maybe it is the general optimism of the construction industry at work. Whatever the reason, major contractors, design firms and subcontractors are feeling decidedly less pessimistic about construction market prospects than they did just three months ago, according to the ENR Construction Industry Confidence Index survey for the fourth quarter of 2010.
The ENR Construction Industry Confidence Index (CICI) for the fourth quarter of 2010 spiked to 43 on a scale of 100 from 32 in the third quarter. An index of 50 would mean a stable market. The 756 executives of large construction and design firms responding to the survey believe that the market is moving out of free fall and may soon be stable.