Construction is a cyclical industry, and firms generally anticipate its ups and downs. However, the market has been steadily growing for the past eight years, and industry executives now believe that 2018 will be another good year. But few are as confident about the long term.

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, which rose five points, to 71, in the fourth quarter. Of the 235 executives of large construction and design firms responding to the survey, most believe market growth will continue in 2018.