After five years of tough markets and hopes of a recovery that never quite seemed to materialize, construction industry executives now believe the industry is back on the path to growth and the elusive turnaround has arrived. While some sectors remain sluggish, most industry executives surveyed believe the overall market is growing.
The ENR Construction Industry Confidence Index survey for the fourth quarter shows the vast majority of respondents—328 executives of large construction and design firms—believe the market is experiencing a sustained recovery. The CICI index stands at 69 on a scale of 100, an indicator of a growth market. This equals the record CICI rating from the second quarter of this year, and it is two points above the 67 rating from the third quarter of 2013.