PHCC Releases Q1 2023 Contractor Confidence Index Report
FALLS CHURCH, Va. — Plumbing, heating, and cooling contractors are feeling cautiously optimistic, according to a new report from the Plumbing-Heating-Cooling Contractors — National Association. The PHCC Business Intelligence Department just released its newly developed Contractor Confidence Index (CCI). Sponsored by PHCC strategic partner Bradford White, the PHCC CCI is based on a quarterly survey of PHCC members designed to take the pulse of the plumbing, heating, and cooling market.
The PHCC First Quarter 2023 CCI summary report revealed a CCI of 52.2, meaning contractors believe industry conditions are better than the previous six months but are trending lower because of ongoing challenges. The first-quarter CCI dropped from 56 in the fourth quarter of 2022 with an increasing number of respondents citing economic uncertainty and fear of a coming recession.