This summer was supposed to be when the construction market would turn around, but that has not been the case for most industry firms. More and more, the industry is sensing that summer 2011 will fare no better than 2010's or 2009's “summer of recovery.” With concerns about not just the health of the construction market but also the American economy as a whole, industry confidence is beginning to fall.
This disappointment over market prospects is shown in the most recent ENR Construction Industry Confidence Index survey. The CICI for the second quarter of 2011 fell to 46 on a scale of 100, down five from 51 in the last quarter. This slide brings the CICI below 50, which would signal a stable market. The 690 executives of large industry firms responding to the survey believe the market still has a way to go before recovery.