CIRT Sentiment Index: Third Quarter 2024 Released
The Construction Industry Round Table (CIRT) and FMI recently released their CIRT Sentiment Index, 3rd Quarter 2024.
The third quarter 2024 CIRT Sentiment Index declined, indicating respondents are less optimistic about future opportunities. The overall index score fell to 62.6 from 67.0 in the prior quarter. The third quarter Design Index also retreated, dropping to 66.3 from 71.1.
This quarter, CIRT members were asked questions about margin pressures, anticipated cost volatility through the remainder of 2024 and their expectations for 2025, and labor productivity.
Key Findings Include:
- Approximately one-third of responding members reported compressing margins in 2024.
- Owner requirements and risk allocation are the top expanding cost categories in 2024 and 2025, with nearly 70% of members indicating these as the most volatile.
- Labor productivity has been consistent for the past 18 months, with most members reporting stable productivity since the beginning of 2023.
