March 13, 2009—Owners of construction and contracting businesses indicated an improved outlook for the general economy during the next 12 months in the Small Business Confidence Index (SBCI), published by the International Profit Associate’s Small Business Research Board.
The construction and contracting industry reported an SBCI of 34 during the fourth quarter, a 3-point increase from the 31 recorded during the second quarter of 2008, according to the study.
The fourth-quarter 2008 SBCI for all small business was 36 and is six points above the indicator’s historical low of 30 recorded during the second quarter of 2008.
The higher construction and contracting SBCI resulted from a positive outlook regarding the general economy in the next 12 months, with 40 percent of the respondents reporting expectations of an improved economy over the next 12 months, an increase of 12 points from the second quarter of 2008.
Also contributing to the higher SBCI is the determination that 27 percent of respondents plan to increase hiring in the next year. This is up three points from the survey held in the second quarter of 2008.
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