Q4 2018 USG + U.S. Chamber of Commerce Commercial Construction Index
The Commercial Construction Index (CCI) 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.
The Q4 CCI is 75, holding steady from Q3, bolstered by strong backlog and market confidence figures.
Contractor concerns around material price fluctuations and skilled worker shortages remain high.
This quarter’s spotlight is on emerging jobsite technologies. The findings show the current and anticipated use of drones, equipment tagging, wearable technologies and virtual reality, among many other technologies. They also reveal the technologies that contractors believe will help most to improve labor productivity, management of project schedule and budget, safety onsite and workforce management.