The U.S. Chamber of Commerce Commercial Construction Index (CCI) is a quarterly economic index designed to gauge the outlook for, and resulting confidence in, the commercial construction industry.
Recognizing a need to highlight the important contributions of this sector to the nation’s economy, the U.S. Chamber produced this first-of-its-kind index.
Each quarter, contractors across the country are surveyed in order to better understand their levels of confidence in the industry and top-of-mind concerns.
The Commercial Construction Index (CCI) increased by one point to 57 in Q3 from 56 in Q2. While the overall index score remained fairly steady, two of the three main indicators saw increases. Contractors’ confidence in new business went up six points to 56, and revenue expectations rose four points to 48 in Q3.
Key Drivers of Contractor Confidence
Backlog
The ratio of average current to ideal backlog slipped from 73 in Q2 to 68 in Q3. This key driver score was 76 in pre-pandemic Q1.
Revenue
Revenue expectations inched up four points to 48 in Q3, as many contractors saw projects ramping back up after the initial shutdowns early in the pandemic. This score was 70 in pre-pandemic Q1.
New Business
Contractors’ confidence in the ability of the market to provide new business in the next 12 months rebounded slightly, increasing six points to 56 in Q3. This score was 76 in pre-pandemic Q1.
