Commercial Construction Contractors’ 21Q1 Outlook

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PowerPak, a utility and infrastructure supply expert, agrees with Contractors as reported in the US Chamber of Commerce Commercial Construction Index,  that the market ‘will provide sufficient new business opportunities”.  “We’ve seen similar market trends”, says CEO, Russell Fawkes, and are optimistically realistic in our projections.”   To find out more about the 21Q1 Construction Index , read below or find the full report here. Or call us anytime to find out about our products and services.

The U. S. Chamber of Commerce 21Q1 Commercial Construction Index was just released and reveals contractors are growing more optimistic.  This is driven by a rise in revenue expectations and better outlooks on hiring and equipment spending plans as business concerns related to the coronavirus pandemic lessen.

The highlights are below and the full read can be found here.

Overall, the Commercial Construction Index (CCI) increased three points to 65 in Q2 from 62 in Q1. All three key drivers behind the score improved. Most strikingly, contractors’ revenue expectations continued to gain ground, jumping four points to 61, following a similar five-point jump in Q1. However, the overall score is still below the score of 74 in Q1 2020 before the pandemic.

The recovery gathers pace as all three key indicators improve:

More than half of contractors report they will employ more people over the next six months.

The cost of building materials are top of mind for contractors this quarter as the report cost fluctuations for not only wood/lumber, but steel and copper.

Most contractors report a moderate to high degree of concern about their workers having adequate skill levels.

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