flexiblefullpage
billboard
interstitial1
catfish1
Currently Reading

ABC's Construction Backlog Indicator down in February

Market Data

ABC's Construction Backlog Indicator down in February

Backlog for firms working in the infrastructure segment rose by 1.3 months in February while backlog for commercial and institutional and heavy industrial firms declined by 0.6 months and 0.7 months, respectively.


By ABC | April 21, 2020

Associated Builders and Contractors reported today that its Construction Backlog Indicator fell to 8.2 months in February, a 7.7% decrease from January’s reading. Backlog for firms working in the infrastructure segment rose by 1.3 months in February while backlog for commercial and institutional and heavy industrial firms declined by 0.6 months and 0.7 months, respectively.

“The impact of the pandemic on backlog was immediate,” said ABC Chief Economist Anirban Basu. “While financial markets, the National Basketball Association and other elements of American society didn’t respond meaningfully to the emerging crisis until early-March, those who consume construction services appear to have begun responding to the crisis in February, resulting in a significant decline in backlog in commercial and industrial segments. Declining backlog was registered in every region of the country with the exception of the Middle States, where social distancing directives were implemented at a slower rate.

“Backlog is likely to decline further,” said Basu. “Many economic actors are striving to preserve as much liquidity as possible, inducing them into postponing construction projects or perhaps canceling them altogether. While infrastructure-related backlog expanded in February, this is unlikely to persist, as the crisis has crushed the finances of many state and local governments. These governments will complete their current fiscal year with substantial shortfalls—shortfalls that must be addressed during the next fiscal year absent significant additional financial assistance from the federal government.”

 

 

 

Related Stories

Market Data | Jan 5, 2021

Barely one-third of metros add construction jobs in latest 12 months

Dwindling list of project starts forces contractors to lay off workers.

Market Data | Jan 4, 2021

Nonresidential construction spending shrinks further in November

Many commercial projects languish, even while homebuilding soars.

Market Data | Dec 29, 2020

Multifamily transactions drop sharply in 2020, according to special report from Yardi Matrix

Sales completions at end of Q3 were down over 41 percent from the same period a year ago.

Market Data | Dec 28, 2020

New coronavirus recovery measure will provide some needed relief for contractors coping with project cancellations, falling demand

Measure’s modest amount of funding for infrastructure projects and clarification that PPP loans may not be taxed will help offset some of the challenges facing the construction industry.

Market Data | Dec 28, 2020

Construction employment trails pre-pandemic levels in 35 states despite gains in industry jobs from October to November in 31 states

New York and Vermont record worst February-November losses, Virginia has largest pickup.

Market Data | Dec 16, 2020

Architecture billings lose ground in November

The pace of decline during November accelerated from October, posting an Architecture Billings Index (ABI) score of 46.3 from 47.5.

AEC Tech | Dec 8, 2020

COVID-19 affects the industry’s adoption of ConTech in different ways

A new JLL report assesses which tech options got a pandemic “boost.”

Market Data | Dec 7, 2020

Construction sector adds 27,000 jobs in November

Project cancellations, looming PPP tax bill will undercut future job gains.

Market Data | Dec 3, 2020

Only 30% of metro areas add construction jobs in latest 12 months

Widespread project postponements and cancellations force layoffs.

Market Data | Dec 2, 2020

New Passive House standards offers prescriptive path that reduces costs

Eliminates requirement for a Passive House consultant and attendant modeling.

boombox1
boombox2
native1

More In Category




halfpage1

Most Popular Content

  1. 2021 Giants 400 Report
  2. Top 150 Architecture Firms for 2019
  3. 13 projects that represent the future of affordable housing
  4. Sagrada Familia completion date pushed back due to coronavirus
  5. Top 160 Architecture Firms 2021