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More than 3 million Americans work in commercial and nonresidential construction, and the sector contributes more than $700 billion in construction spending. As an industry-leading manufacturer of building products, we know how important the commercial construction industry is.
The USG + U.S. Chamber of Commerce Commercial Construction Index forecasts the direction of our industry by looking at three key factors across regions and trades – backlog levels, new business opportunities and revenue forecasts – to measure how contractors feel about the health and vitality of commercial construction.
Contractor Outlook Shifts Downward from Q3 Optimism.
In Q3 2019, the Commercial Construction Index (CCI) composite score peaked at 77, the highest it’s been since the report first launched in Q1 2017. This quarter, there is a notable decline of six points, down to 71, marking the lowest score since the Index’s inception. Rather than suggesting a precipitous decline, the instability between Q3 and Q4 appears to indicate greater uncertainty among contractors about what to expect from the construction market.