Report: Majority of contractors have ‘high level’ of market confidence

By |  July 13, 2020

Dodge Data & Analytics logo 600x400While the aggregate and construction industries have largely been deemed essential during the pandemic, contractors are facing supply chain issues and other challenges, according to data from The Civil Quarterly (TCQ), a new publication from Dodge Data & Analytics.

According to TCQ, 60 percent of heavy civil contractors currently have a high level of difficulty finding skilled workers, and 53 percent expect the cost of skilled workers to increase in the next six months. In addition, 43 percent of those expecting labor costs to increase also believe they will be challenged to meet budget requirement on their projects.

Similarly, 38 percent of contractors expect a decrease in their profit margins in the next year, while 29 percent expect an increase during the same time period.

Despite challenges, 56 percent of heavy civil contractors have a high level of confidence about the market’s ability to provide new business opportunities for the next 12 months. When extended to a two-year outlook, an even higher percentage (63 percent) of contractors has a high level of confidence about the market.

The Civil Quarterly is the result of Dodge Data’s partnership with Infotech, Leica Geosystems and Command Alkon and Digital Construction Works.

The survey data is based on responses from 99 contractors who took the online survey between mid-April and mid-May.

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