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A quarterly nationwide construction survey found widespread pessimism for future opportunities.

The Construction Industry Round Table Sentiment Index, produced by consulting and investment banking firm FMI Corp., found 鈥渄eclining sentiment across all economic components, including the overall U.S. economy, the economy where members operate, members’ construction businesses and the nonresidential sector.鈥�

Design and construction sentiment have been hit by 鈥渞eceding opportunities,鈥� particularly in transportation, industrial and public works. Slight improvement was expected in commercial, education and industrial sectors, according to the survey.

, released Aug. 29, queried 130 CEOs in design and construction. The results 鈥渁re consistent with what (Associated General Contractors) is seeing nationally and in the Pacific Northwest,鈥� said Mike Salsgiver, executive director of .

鈥淧ublic work 鈥� particularly with federally-funded projects 鈥� remains steady, though we have work to do to bolster state- and locally-funded projects,鈥� Salsgiver stated in an email. 鈥淭he private sector has been slowing, but we will see what happens if the Fed moves to reduce interest rates in the fall.鈥�

In the Portland metro area, major infrastructure projects such as the Portland International Airport’s $2.1 billion main terminal expansion and the Bull Run water treatment project, which is also expected to cost about $2.1 billion, have buoyed contractors. Others, including the Interstate Bridge replacement, are moving through the pipeline.

Labor remains a top issue for contractors and designers. Nearly half of CIRT members said they had overrun budgeted labor costs this year, FMI Corp. reported. Looking ahead, 61 percent said they expect the cost of labor to 鈥渕oderately increase鈥� in the next quarter.

鈥淭he major challenge continuing to face construction is availability of trained and skilled labor,鈥� Salsgiver stated. 鈥淲hile the market is shifting broadly, the construction labor pool remains a serious barrier. We didn’t get here overnight and we won’t fix it overnight, but AGC will continue to work with our partners in government, education, organized labor and privately to bend that curve in the right direction.鈥�