Q1 2018 Healthy Construction Market Data
I recently read the Commercial Construction Index published by USC Corporation and the U.S. Chamber of commerce. Construction continues to trend positively.
Q1 2018 Backlog, New Business, Revenue/Profit Highlights:
- 80% of contractors report steady or increasing backlogs
- Average reported backlog: 8.9 months (Ideal backlog is 12.2 months)
- 58% of contractors want to hire
- 90% of contractors are at least moderately concerned about skill levels of the workforce
- 62% of contractors report a high level of confidence that the market will provide sufficient business opportunities.
- 54% of contractors expect to see their revenues increase
- 39% expect an increase in profit margins