Articles Tagged with ''cost report''

For the first time since Q1 of 2022, construction industry executives report a stable and slightly growing market on ENR’s Construction Industry Confidence Index (CICI) survey.

The construction industry has seen some modest growth in the first quarter of 2024, but issues from the past several years are slow to recede.

The coming year presents a complex landscape for the construction industry. Cost, risk and growth will be impacted by geopolitical turmoil, inflation and increased regulatory complexity.

Despite a surprisingly strong economy, construction industry executives report that they enter 2024 with much of the same trepidation they faced at the start of 2023.

As 2023 comes to a close, experts are fairly optimistic about the economic outlook for construction in 2024, but not without some words of caution.

While shopping around for a used piece of construction equipment through the usual channels has taken some creative sourcing in recent years, this summer has seen prices stabilize for the most part.

Labor shortages and inflationary pressures continue to push up craftworker wages with recent settlements trending toward levels not seen in decades.

ENR’s Construction Industry Confidence Index rose this quarter to its highest rating since Q1 of 2022, up six points to a nearly stable 46 rating.

As the construction industry continues to grapple with the difficulties of the last several years, some sectors have fared better than others, and experts predict there is still some time to come before these issues have been settled.

Pay hikes for construction staff remain at a historically high rate, even as some sectors could see a future slowdown in project starts.