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 three points to 62 in Q1 from 59 in Q4. All three key drivers behind the score rose or remained the same. Most strikingly, contractors’ revenue expectations jumped five points to 57. However, the overall score is still below the score of 74 in Q1 2020 before the pandemic.
Key Drivers of Contractor Confidence
Backlog
The ratio of average current to ideal backlog remained at 69, steady from Q4 2020. This key driver is the closest of the three to its pre-pandemic score of 76 in Q1 2020
Revenue
Revenue expectations for the next 12 months increased five points this quarter to 57. This score was 70 in Q1 2020 before the pandemic.
New Business
Contractors’ confidence in the ability of the market to provide new business in the next 12 months grew, moving up two points to 59. This score was 76 in Q1 2020 before the pandemic
