By the end of 2017 more than 2.5 million construction professionals were utilizing Procore to build more efficiently, on-time, within budget, and safely. These people bring a wealth of knowledge about the industry with them to the jobsite each day, which is why we thought it would be beneficial to tap into this knowledge base.
Through the Procore Builder's Club, we surveyed a group of senior members of the construction industry (those with titles of manager or above) to gauge an economic outlook based on various factors impacting the industry over the next six months.
Working with Anirban Basu, chief economist, Sage Policy Group, we produced our first Procore Construction Industry Outlook (PCIO) by creating a diffusion index for each response generated by our Builder's Club questions. The bigger the value, the better the results; values above 50 represent the signs of optimism.
Our first report analyzed topics including Backlog, Profit Margins, Revenues, Construction Material Prices, Worker Compensation, Apprenticeships, Investment in Working Training, and Skilled Labor.
Our intent is to revisit these topics six months from now, and we'd be open to hearing from you in the comments section below on what additional topics we can explore in the next report.
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