Decline in building activity pushes first-quarter Building Confidence Index lower

After having risen to 29 in the fourth quarter of 2020, the First National Bank (FNB)/Bureau for Economic Research (BER) Building Confidence Index shed two points to 27 in the first quarter of this year, showing that more than 70% of respondents are dissatisfied with prevailing business conditions.

Main contractor confidence edged one index point lower to 20 during the first quarter of the year; whereas subcontractor confidence fell by 11 index points to 19, erasing almost all the gains of the fourth quarter of 2020.