Report Reveals Commercial Construction Index Drops Amid Coronavirus Pandemic

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The recently released Q2 2020 USG Corporation + U.S. Chamber of Commerce Commercial Construction Index plunged from 74 in Q1 to 56 in Q2. Two of the index’s three main indicators—confidence in new business and revenue expectations—both fell 26 points, to 50 and 44, respectively, revealing the severe impact of the coronavirus pandemic on the construction industry. However, the third indicator, backlog, dropped only a modest three points, remaining consistent with the first half of 2018. Survey results were largely collected in the month of April, at the height of shutdown restrictions. The overall drop in the index stemmed in part from the fact … Read more

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Persistent Workforce Shortages Challenge Commercial Construction Industry

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The Q1 2018 USG Corporation + U.S. Chamber of Commerce Commercial Construction Index reveals nearly two-thirds of contractors are highly confident that demand for commercial construction will increase over the next year, however, continued concerns around labor shortages have put even greater pressure on the industry. To increase jobsite efficiency and improve labor productivity, increasingly more builders are turning to alternative construction solutions, like prefabrication and modularization. The Q1 Index indicates contractors turn to innovations such as prefabricated and modular building materials to create more efficient jobsites (89 percent), increase labor productivity (85 percent), drive cost savings (58 percent) and … Read more

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