Construction executives overall are more cautious than in the recent past two years but still generally optimistic about 2006. Builders in Arkansas, Louisiana, Oklahoma and Texas are the most optimistic while those in New England are the least.
These findings are from the annual CIT Construction Industry Forecast by CIT Construction, a unit of CIT Group Inc.
Asked how they view the overall business outlook for 2006 compared to 2005, 45 percent of contractors said better, 13 percent said worse and 42 percent said they see 2006 equal to 2005.
The second most optimistic group of executives is in the states of Arizona, Colorado, Idaho, Montana, Nevada, New Mexico, Utah and Wyoming. After the New England states, the West North Central states of Iowa, Kansas, Minnesota, Missouri, Nebraska, North Dakota and South Dakota expressed the least optimism about 2006 construction.
Health insurance costs were cited by 81 percent of contractors as the industry’s most serious problem heading into the new year, while a lack of a quality workforce and profit margins were also mentioned.
They widely (67 percent) view residential construction as the most promising business opportunity for 2006.
Topics Trends Construction
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