Improving residential construction is counterbalancing declining nonresidential work, and the Wright Express Construction Fuel Consumption Index (FCI) reflected increased activity in May. But up-and-down movement in the Construction FCI in recent months suggests that the industry’s recovery is still somewhat fragile.
The Construction FCI is derived from transaction data from the Wright Express network of more than 180,000 fueling locations, including over 90% of domestic fuel retailers and 45,000 vehicle maintenance locations. The data is used to estimate national fuel consumption for the construction industry, which is considered an up-to-date indicator of actual construction activity.
Tracking the FCI over time helps identify emerging trends in construction and the national economy.