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Construction Industry: 'Heightened Pessimism'

PRINCETON, NJ-Trade association's new index shows 18% drop in industry confidence in the past six months.

By Eric Peterson | Updated on December 18, 2008

PRINCETON, NJ-The construction industry is the latest to weigh in with a loss of confidence in the state of the market. In its first publicly released reading, the Construction Financial Management Association’s new Confidex standard shows a dramatic 18% decline in overall industry confidence since June.

“That indicates a heightening pessimism level,” says James J. Bartsch, CFMA’s director of research and analysis, who oversees the proprietary construction industry measure of 200 randomly selected CFOs in the commercial construction sector.

The Confidex measure is based on a rating of 100 being “neutral,” greater than 100 being “optimistic,” and less than 100 being “pessimistic.” In June, the survey’s rating was 97, and the December number came in at 79, reflecting that 18% drop in confidence. The next survey is scheduled for release in March.

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