According to the Construction Confidence Index (CCI), which was recently released by the Associated Builders and Contractors (ABC), confidence among U.S. construction leaders held steady in December 2019, after accelerating in November. With sales expectations, profit margins and staffing levels all remaining above the growth expectations threshold, the average American contractor is entering 2020 with confidence. Seventy percent of contractors are expecting their sales to increase in the first half of 2020. The same percentage of contractors are anticipating increases in their staffing levels. Almost 50% of the same contractors expect to see their profit margins rise in the first half of 2020. The CCI sales expectation decreased from 69.5 in November to 68.8 in December. The CCI expectations for profit margin decreased from 61.3 in November to 60. The CCI for staffing levels increased from 66.9 November to 67.2 in December. CCI is a diffusion index. Readings above 50 indicate growth, while readings below 50 are unfavorable.
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Construction Contractor Confidence Remains Steady