This year marks the eighth year of a recovery from the deep industry recession that was sparked by the financial collapse of September 2008, the third-longest industry recovery on record. And there is still gas in the tank, according to industry executives. But these same execs are hedging their bets beyond 2018.
The near-term optimism, blunted by a longer-term market concern, can be seen in the results of the ENR Construction Industry Confidence Index survey. The CICI fell six points, to 66, in the third quarter. However, of the 257 executives of large construction and design firms responding to the survey, most believe market growth will continue at least through the end of 2018.