With the economy so far navigating through recession risks, ENR’s Construction Industry Confidence Index shot up 11 points this quarter to a cautiously pessimistic 44 rating, with 68% of survey respondents seeing the current market as either stable or improving, up from 62.7% last quarter.

Recession fears continue to loom as the first quarter comes to a close. Inflation remains an ongoing issue, while recent failures in the banking sector pose additional threats.

Over the past few years, the second quarter has been a time of reckoning for ENR’s Construction Industry Confidence Index.

ENR’s Construction Industry Confidence Index remained steady in Q1, rising slightly to a rating of 61, a one-point bump from the final quarter of 2021. The index had fallen the previous two quarters. 

The long awaited Infrastructure Investment and Jobs Act has been passed, but construction market confidence has continued to dip among industry executives.

Worries over price inflation and persistent labor shortages have cooled optimism among construction execs, but overall confidence in the market remains strong.

It is too soon to predict what 2021 will bring, but there are signs that the recession will end soon

Most markets are in decline, but many industry leaders hope that the worst will soon pass

Industry executives surveyed believe that recovery will be at least a year away