Dodge Data & Analytics has released the First Quarter Commercial Construction Index. This report gives a forecast of the commercial construction industry based on data and perceptions from General Contractors in North America. Here are some interesting findings:
- Although the pipeline of work does not forecast as strongly as it did at the end of 2018, the overall market is still healthy. Many contractors are focusing on economic issues in hopes that more projects will enter development beyond 2019.
- A main issue impacting data is that of financing for projects: GCs were more inclined to forecast difficulty with owner access to financing while non-GCs forecasted no change in owner access to financing.
- The Quarterly Spotlight focuses on Perceptions of the Construction Industry, and issues of workforce development.
- Access to, and the cost of, skilled labor were identified as concerns for 88% of surveyed contractors.
- Contractors see construction work’s earning potential and opportunities for advancement as the main draws for people to enter the industry.
- Contractors believe that the public perception of employment opportunities in the construction industry as “dirty jobs,” and that they’re jobs, not careers.
Read the report:
Watch a webinar summarizing the report here:
Listen to a podcast summarizing the report here:
About the Dodge Data & Analytics Commercial Construction Index
The Commercial Construction Index is a quarterly economic indicator designed to gauge what drives the commercial construction industry and its leaders, based on research conducted with contractors. Topics covered include the three factors from which the Index is derived—backlog levels, new business opportunities and revenue forecasts—and additional market drivers such as workforce, financing, and materials and equipment trends. The Index also features a quarterly spotlight on revolving construction industry topics.