Commercial Construction Contractors Upbeat on Outlook Despite Worsening Material Shortages, Worker Shortages

  • Posted on

Contractors continue to face a shortage of building materials like lumber and steel, while cost fluctuations for the building products are having increasing impact on business, according to second quarter data from the U.S. Chamber of Commerce Commercial Construction (Index). This quarter, 84% of contractors are facing at least one material shortage. Almost half (46%) of contractors say less availability of building products has been a top concern lately, up from 33% who said the same last quarter. Despite the materials challenges, the overall Index score rose three points to 65 (its highest reading since a score of 74 in … Read more

Filed under: Economic NewsTagged with: , ,

Outlook on Commercial Construction Lifts on Rising Revenue Expectations

  • Posted on

Data from the first quarter U.S. Chamber of Commerce Commercial Construction Index reveals contractors are growing more optimistic, mostly driven by a rise in revenue expectations. They also have better outlooks on hiring and equipment spending plans as business concerns related to the coronavirus pandemic lessen. In the first quarter of this year, 36% of contractors expect their revenue to increase over the next year, a jump of 11 percentage points from 25% in Q4 2020. Eighty-seven percent expect their revenue to either stay the same or increase, up from 86% last quarter. Most (86%) contractors also report a moderate … Read more

Filed under: eNewsTagged with: , , , ,