CIRT Sentiment Index: Third Quarter 2024 released

The Construction Industry Round Table (CIRT) and FMI recently released their CIRT Sentiment Index for Q3 2024.

The CIRT Sentiment Index for the third quarter of 2024 has declined, indicating that respondents are less optimistic about future opportunities. The overall index value fell to 62.6 from 67.0 in the previous quarter. The Design Index for the third quarter also declined, falling to 66.3 from 71.1.

This quarter, CIRT members were asked questions about margin pressure, expected cost volatility through the end of 2024, their expectations for 2025 and labor productivity.

Key findings include:

• About a third of responding members reported declining margins in 2024.
• The fastest growing cost categories in 2024 and 2025 are ownership requirements and risk allocation, with nearly 70% of members reporting that these categories have the greatest volatility.
• Labor productivity has been consistent over the past 18 months, with most members reporting stable productivity since the beginning of 2023.

To download the report, visit FMI.