There would appear to be good reason for the current uneasiness about the future among both large and small construction firms. For one thing, it seems to be a matter of taking your choice between current interest rates as high as 15 percent or the chance that the inflationary spiral will boost project costs by that same figure if construction in postponed. For a time there will probably be few construction starts other than those already committed for sewage works, power plants and chemical process facilities. As a further damper to construction, taxpayers may be hesitant to give a green light to upcoming bond issuers for financing public construction. In the overall picture, general contractors have projects going now, but many of them are from backlog orders and the sources for new projects have disappeared. That sources of new projects are disappearing is evidenced by reports from architects and engineers indicating their current workload is either lower or at about the level of a year ago. About 75 percent of design firms see a trend among clients to postpone the start of projects. Erosion in backlogs reportedly started when the prime rate climbed past nine percent. The rate now stands at 12 percent and the average contractor must pay from two to four percent over the prime rate plus an additional one percent commitment fee to the bank. Despite one of the largest wage pacts ever, one building association director feels that the industry could still make the grade if interest rates could be brought down to reasonable levels.