The long awaited Infrastructure Investment and Jobs Act has been passed, but construction market confidence has continued to dip among industry executives. ENR's Construction Industry Confidence Index dropped to a rating of 60, down five points from Q3. Confidence in the U.S. economy as a whole plunged even further, down 11 points to a feeble 50. The law's passage did restore some positivity among firms. Taking only those 82 firms that filed surveys on or before Nov. 5, when the House passed the bill, the index came in at a 57 rating, rising to 62 among the 100 firms who filed after. Likewise, the latter group viewed the economy much more favorably (a 54 rating) than the former (44). In all cases however, the indices are below their Q3 levels.
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