In the most recent CONFINDEX survey, the Constructon Financial Management Association, Princeton, NJ, recorded an uptick in industry confidence. CFMA polls 200 chief financial officers from general contractors, subcontractors, and heavy and civil construction firms. “Our CONFINDEX went from 101 to 108 for the second quarter of 2010,” says Mike Verbanic, CFMA’s director of marketing.
CFMA’s index is based on a scale of 200, with 100 being a stable market. Verbanic notes the CFOs surveyed found general business conditions, including backlog and availability of bank credit, much better than a year ago. “There are no signs of euphoria in the survey, but more of a sense that market conditions are slowly improving,” he says.
As for market prospects, the CFMA survey rating dropped slightly from 129 on a scale of 200 in the first quarter to 127 in this quarter, notes Brian Summers, CFMA’s chief operating officer. “Attitudes about the market are still not great, but they are a far cry from where they were in the fourth quarter of 2008, when the CONFINDEX was 79,” he says.
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