Part of the optimism comes from the view that project financing, particularly in private sector markets, is on the rise. ENR's survey found that, while 56.4% of survey respondents said that project financing has been unchanged from six months ago, 31.9% said that credit for project financing was actually easing from the level it was in mid 2012. This compares to last quarter, when only 19.9% found project financing to be getting easier, while 15.9% found financing was getting tougher.A significant concern among construction firms is that public sector spending will continue to be constrained by concerns over budget shortfalls and deficits. President Obama's state of the union address pledging support for funding the nation's infrastructure caused some construction executives to take heart. However, only 27.1% of survey respondents believe this pledge to increase infrastructure spending will actually result in added public funding. In addition, 33.5% said that public spending on infrastructure will remain unchanged while 20.7% expect lower levels of public funding this year despite the President's pledge.
Construction Executives See Market Shifting Into Recovery Mode According To ENR's Construction Industry Confidence Index
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