Report: Construction Optimism High Despite “Severe Challenges”

Supply chain disruptions, cyber security and increased costs are all contributing to contractor concern. Even with current projects being delayed as a result, Dodge reports 71% of contractors are highly optimistic about projects over the next year Construction contractor confidence should be dwindling given the mounting number of challenges they face every day, but a new report from the Dodge Construction Network found that nearly three-quarters of contractors are “highly optimistic” about the volume of work they expect in the next year. The report, based on a quarterly survey of civil contractors, engineers and owners, reveals a dramatic increase in supply chain challenges faced by civil contractors. As a result, the vast majority of civil contractors (92%) have had projects impacted by fluctuations in the cost of construction materials in 2021. The report also found that 89% expressed concerns about cost increases for materials over the next six months, including prices for steel, piping, paving materials, lumber and aggregates. READ FULL ARTICLE>>