The First National Bank (FNB)/Bureau for Economic Research (BER) Civil Confidence Index rose to 52 in the fourth quarter of last year, up from 43 in the third quarter. The Civil Confidence Index reflects the sentiment of businesses in the civil construction sector, with a score above 50 indicating positive confidence. This improvement suggests growing optimism among civil contractors, which may signal increased investment and activity in the sector.
Civil contractor sentiment has reached its highest level in 11 years, matching Q3 of 2016 and reflecting a marked recovery for the sector. Over half of respondents to the Civil Confidence Index reported satisfaction with current business conditions, a change from more cautious outlooks in previous quarters. Increased construction activity, especially in renewable energy and mining, drove this improvement despite a 3% year-on-year decline in the real value of construction works in Q3 2025. The contraction slowed in Q4, aided by new projects.
Profitability in the sector also improved, reaching its strongest point since 2007. Though margins are not as high as during the 2010 FIFA World Cup build-up, they have clearly contributed to a better business climate. Survey respondents expect this positive trend to continue into early next year.
While forward-looking indicators are mixed, ongoing momentum suggests continued recovery. The civil construction survey is valued as a reliable measure of infrastructure investment trends, revealing concentrated growth in energy and mining sectors but highlighting the need for broader reforms elsewhere.
