Worries over price inflation and persistent labor shortages have cooled optimism among construction executives, but overall confidence in the market remains strong. A cautiously optimistic view about a full market recovery can be seen in results of the latest ENR Construction Industry Confidence Index. The Index dropped three points to a rating of 65. This quarter’s regression follows a record 17-point gain in Q2.
Despite the drop, the index remains at its second highest level since the third quarter of 2018.