Commercial Construction Index Reveals Continued Optimism Among Contractors
Confidence in the commercial construction industry is strong, despite significant concerns around jobsite efficiency and labor productivity, according to the Q4 2017 USG Corporation + U.S. Chamber of Commerce Commercial Construction Index (Index). The Index shows that optimism remains high in the commercial construction industry, with 57 percent of contractors expecting to hire in the next six months and a large majority reporting stable or increased revenue expectations in the next year. The Q4 composite score is 74, up one point from Q3.
The report found nearly 90 percent of contractors do not consider jobsites to be very efficient. Forty-four percent of contractors identified labor productivity as the key means to achieve jobsite efficiency, followed by jobsite logistics and project management. Forty percent of contractors reported the use of prefabricated building components to be the top means of improving labor productivity.