RALEIGH, N.C. – January 20, 2021 — FMI Corporation, the leading provider of consulting and investment banking services to the Built Environment, released the first quarter 2021 CIRT Sentiment Index. This quarter’s questions polled Construction Industry Round Table (CIRT) members on internal metrics such as backlogs and hiring goals as well as economic risks and regulatory concerns for 2021.
Key findings from this quarter’s survey include:
- A slight increase in confidence seen in the Sentiment Index, which increased to 55.5 from 54.2, and the Design Index remaining constant at 64.8 from the previous quarter.
- The most frequently selected economic risk factors for 2021 include the ongoing slowdown (62%), project delays and cancellations (53%), uncertainty about project funding (50%) and increasing competition (43%).
- The most frequently selected political or regulatory concerns include federal infrastructure funding (55%), renewed aggressive regulatory policy (50%), coronavirus response (47%) and tax policy (45%).
- Among the industries represented by CIRT’s member base, lodging, commercial, heavy civil and transportation, office and education are projected to experience the biggest short-term declines across both the design and construction industries.
- The design industry’s long-term view of project growth remains positive, with every sector tracking above 3.0. The construction industry’s long-term view is similarly optimistic, with just one sector tracking below 3.0 (office).
The CIRT Sentiment Index is a survey of Construction Industry Round Table members that is carried out by FMI each quarter. The CIRT is composed exclusively of approximately 115-120 CEOs from the leading architectural, engineering and construction firms doing business in the U.S. CIRT is an organization that is uniquely situated to represent the richly diverse and dynamic design and construction community.
FMI is the leading provider of consulting and investment banking to the Built Environment. We provide services in the areas of strategy, leadership and organizational development, performance, technology and innovation, mergers and acquisitions, financial advisory and private equity financing.
For more information, please visit www.fminet.com.
Liz Hester, FMI