The USG + U.S. Chamber of Commerce Commercial Construction Index (CCI) for Q1 is in for Q1 2018.
The CCI is a quarterly economic index designed to gauge the outlook for, and resulting confidence in, the commercial construction industry. For Q1 the CCI measured the use of prefabricated components to address the employee shortage. Since 65% of small contractors have difficulty in finding skilled workers, they are looking to find ways to do more with less employees and it looks as if prefabrication could be the answer.
According to the CCI, 62% of contractors are using prefabricated components, 89% felt that prefabrications increased onsite efficiency, 85% felt that it improved labor productivity, and 78% felt that it reduced risk.
Other news reported CCI is that most contractors believe that they will see revenue growth in the next year, a slight increase of Q4 2017. And there’s also high confidence in new business growth for the next twelve months, up from Q4 2017.