Princeton, N. J. — The Construction Financial Management Association (CFMA) has just released its latest CONFINDEX reading, for the third quarter 2009. In its latest reading, CONFINDEX showed a modest improvement, a slim uptick since the June 2009 reading, from 89 to 91. CONFINDEX remains in negative territory since the fourth quarter 2008.
Noteworthy to this latest quarterly reading, the Financial Conditions and Current Confidence sub indices are projecting 2010 expectations to be positive. These indices include General Business condition, Availability of Bank Credit, Bonding Credit and Total Backlog.
“The responses to all these issues were well into positive territory for 2010,” said Jim Bartsch, Director of Research and Analysis for CFMA.
CONFINDEX was launched last year as a proprietary construction industry assessment by 200 randomly chosen CFOs in the commercial construction sector. Released quarterly, it’s comprised of eight elements used to calculate a net score of confidence, including the state of construction industry conditions and total backlog, and availability of bank credit, bonding credit and working capital. It is also made up of four sub-indices, such as business conditions, financial conditions, current confidence and outlook for the next year.
CONFINDEX next reading is scheduled for release in December 2009.
The Construction Financial Management Association is the only non-profit organization dedicated to serving the financial professional in the construction industry. Established in 1981, it serves more than 7,000 members in 89 chapters across the United States, offering an award-winning business journal in addition to a variety of educational and professional development programs through its chapter network, at its Annual Conference & Exhibition, and via the Internet. Membership in CFMA provides construction financial professionals with unique opportunities for industry networking, career development, and personal growth.
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Great post John. Thanks!
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