10
• Cash flow across the industry increased 9% compared
to Q3 and Q4 in 2022; it was flat in 2023 as compared
to 2022.
• Cash flow for heavy highway and civil contractors
increased 80% compared to Q3 and Q4 in 2022; it
decreased 28% in 2023 as compared to 2022.
• Cash flow for specialty contractors increased 62%
compared to Q3 and Q4 in 2022; it increased 77% in
2023 as compared to 2022.
• Cash flow for general contractors decreased 30%
compared to Q3 and Q4 in 2022; it increased 5% in
2023 as compared to 2022.
Potential Impact
An increase in cash flow means that contractors are not spending money, which may indicate
that they have trepidations about economic conditions and are not building as much as
anticipated. This was the most pronounced with heavy highway and civil contractors who held
onto the most cash, which was followed by specialty contractors. General contractors actually
spent more money in Q3/Q4 2023 as compared to Q3/Q4 in 2022, which could correspond to the
fact that they saw an increase in contract values during the same time period.
Cash Flow
Trends
Construction Metric Index
Construction Activity Index - Q3 & Q4 2023 ©Trimble Viewpoint, Inc. All Rights Reserved.
Cash flow across the
industry increase 9%
year-over-year
9%
