Construction contractor confidence plummets in response to COVID-19

Confidence among U.S. construction industry leaders plummeted in response to the economic fallout associated with COVID-19, according to the Associated Builders and Contractors Construction Confidence Index (CCI) released April 23. Data regarding sales, profit margins and staffing level expectations fell below the threshold of 50 for the first time in the history of the series, signaling expected contraction along all three dimensions. The CCI is a diffusion index where readings above 50 indicate growth, while readings below 50 are unfavorable.  This survey was conducted March 20-31.

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