8
• Across the construction industry, contract values
decreased 45% compared to Q3 and Q4 of 2021;
they decreased 60% compared to Q4 of last year.
• General contractors' contract values
decreased 52% compared to Q3 and Q4 of 2021;
they decreased 66% compared to Q4 of last year.
• Heavy highway and civil contractors' contract
values decreased 17% compared to Q3 and Q4
of 2021; they decreased 54% compared to Q4
of last year.
• Specialty contractors' contract values decreased
11% compared to Q3 and Q4 of 2021; they
decreased 28% compared to Q4 of last year.
Potential Impact
The declines seen in contract values are not unusual given the declines seen across projects
as they tend to mirror each other. That's because fewer projects means fewer and less-
valuable contracts as contractors are forced to bid for smaller, less-expensive jobs. These
declines were seen across all verticals with general contractors seeing the largest declines.
Contract
Value Trends
Construction Metric Index
Contract values across the
industry decreased 45%
year-over-year
45%
Construction Activity Index - Q3 & Q4 2022 ©Trimble Viewpoint, Inc. All Rights Reserved.
