The Q3–2017 commercial construction composite index score was 73, only slightly below the previous two quarters (76 in Q2 and 74 in Q1). The 0-100 index, based on a survey of contractors, looks at three leading indicators – backlog levels, new business opportunities and revenue expectations – to gauge confidence in the sector.
- Backlog (77): Contractors are currently holing 9.5 months of backlog, on average versus the ideal backlog of 12 months;
- New Business (54): Fifty-four percent of contractors report high confidence in new business over the next 12 months;
- Revenues (67): Sixty-seven percent of contractors expect revenue to grow or remain stable in the next year.