Associated Builders and Contractors recently reported that its Construction Backlog Indicator contracted to 8.1 months during January 2019, down 0.8 months or 9.3% compared to the fourth quarter 2018 reading of 8.9 months.
“This represents the latest in a number of indicators suggesting that U.S. economic momentum has begun to wane,” said Anirban Basu, ABC’s chief economist. “Other data tracking retail sales, employment growth and the trade deficit suggest that in contrast to 2018, this year will not be as strong from an economic growth perspective.
“January’s decline in nonresidential backlog was significant, slipping to levels last observed in 2014,” said Basu. “From an industry segment perspective, the decline in backlog was especially sharp in the infrastructure category, which may have been related to the federal shutdown in January.
“There was one meaningful exception in the Middle States, where backlog continues to rise,” said Basu. “This is potentially a result of stronger industrial production growth in 2017 and 2018, which has produced greater demand for modern industrial space. As with any January data release, weather may also have played a role in shaping the results. Accordingly, more clarity regarding contractual activity will arrive during the months ahead.”
Related Stories
Market Data | Jul 29, 2020
62% of metros shed construction jobs from June 2019 to June 2020 as Association calls for new infrastructure funding, other relief steps
New York City and Brockton-Bridgewater-Easton, Mass. have worst 12-month losses, while Austin and Walla Walla, Wash. top job gainers.
Market Data | Jul 29, 2020
6 must reads for the AEC industry today: July 29, 2020
The world's first net-zero airport and California utility adopts climate emergency declaration.
Market Data | Jul 28, 2020
For the fourth consecutive quarter, Los Angeles leads the U.S. hotel construction pipeline at the close of Q2’ 20
New York City continues to have the greatest number of projects under construction, with 106 projects/18,354 rooms.
Market Data | Jul 28, 2020
6 must reads for the AEC industry today: July 28, 2020
St. Petersburg Pier reconstruction completes and post-pandemic workplace design will not be the same for all.
Market Data | Jul 28, 2020
Senate Republicans' coronavirus relief measure includes provisions that will help hard-hit construction firms recover
The HEALS Act includes essential liability, workforce, financial & unemployment reforms, but association will work to get needed infrastructure investments included in final relief measure.
Market Data | Jul 27, 2020
6 must reads for the AEC industry today: July 27, 2020
Customized labs give universities a recruiting edge and the U.S. construction pipeline remains robust through the first half of 2020.
Market Data | Jul 27, 2020
The U.S. construction pipeline remains robust through the first half of 2020, despite pandemic
Projects currently under construction stand at 1,771 projects/235,467 rooms, up 3% and 1% respectively, YOY.
Market Data | Jul 24, 2020
5 must reads for the AEC industry today: July 24, 2020
North Carolina will stop relying on FEMA flood mapping and Cal Poly Pomona's newest project.
Market Data | Jul 23, 2020
New LEED guidance from USGBC helps cities and communities expand resilience efforts in response to the COVID-19 pandemic
Credits integrate public health and social equity with sustainability planning.
Market Data | Jul 23, 2020
6 must reads for the AEC industry today: July 23, 2020
Skanska selects Pickard Chilton to design new ofice tower and days grow long at nursing homes as virus lockdowns drag on.
