FMI Releases 2024 3rd Quarter Civil Construction Confidence Report
FMI recently released their 2024 third quarter Civil Infrastructure Construction Index (CICI). According to the management consulting firm, the CICI dropped almost six points in the second quarter, signaling a potential cool down in the civil infrastructure space.
This quarter respondents said bid prices dropped while new competitors in their markets increased, indicating a tighter business environment.
Key findings include:
- 47% of respondents indicated margins are compressing either somewhat or significantly.
- 45% of respondents said labor is the primary cost affecting margins.
- 56% of respondents expect that margins will compress either somewhat or significantly in 2025.
*Formerly named Heavy Civil Construction Index. Methodology remains unchanged.
