Source: McGraw-Hill Construction, New York
More than 700 domestic construction and design firm executives--out of 2,000 surveyed--overwhelmingly agreed that the current industry slump will either stabilize or improve in the next 12 to 18 months, according to a report in McGraw-Hill's Engineering News-Record. Forty-five percent of survey respondents expect the construction market will be better by the back half of 2011, with an equal percentage believing it will have at least stopped declining.
According to the ENR Construction Industry Confidence Index (CICI) for the first quarter of 2010, construction and design firm executives are not confident that the industry recession will end this year: 68 percent of respondents say the current construction market is declining, 26 percent believe it has stabilized, and only five percent see improvements. The Q1-2010 CICI, which measures industry sentiment for market sectors and trends, is presently registering 34 on a scale of 1 to 100, where a value of 100 indicates an improving market and a value of 50 indicates a stable market. The next quarterly survey results will be available in June 2010.