• Associated Builders & Contractors says its Construction Confidence Index for commercial builders was down at the end of the second quarter. The organization blames that partly on the fiscal "cliff" of higher taxes and reduced spending from which Congress has yet to rescue the country.
• "In recent months, nonresidential construction spending levels have barely managed to edge higher, disappointing many contractors," ABC Chief Economist Anirban Basu also said.
• The confidence index remains in positive territory, unlike a similar index for home builders, but its three components were down in the last quarter: Sales expectations from 68.3 to 62.3, profit margins from 57.9 to 53.5 and staffing levels from 64.3 to 59.8. Any number above 50 indicates more optimism than pessimism.

From the release:

WASHINGTON, D.C. – Associated Builders and Contractors (ABC) today released its newest construction economic measure, the Construction Confidence Index (CCI). ...