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 | Sep 16, 2020

6 must reads for the AEC industry today: September 16, 2020

REI sells unused HQ building and Adjaye Associates will design The Africa Institute.

Market Data | Sep 15, 2020

7 must reads for the AEC industry today: September 15, 2020

Energy efficiency considerations for operating buildings during a pandemic and is there really a glass box paradox?

Market Data | Sep 14, 2020

6 must reads for the AEC industry today: September 14, 2020

63% of New York's restaurants could be gone by 2021 and new weapons in the apartment amenities arms race.

Market Data | Sep 11, 2020

5 must reads for the AEC industry today: September 11, 2020

Des Moines University begins construction on new campus and the role of urgent care in easing the oncology journey.

Market Data | Sep 10, 2020

6 must reads for the AEC industry today: September 10, 2020

Taipei's new Performance Hall and Burger King's touchless restaurant designs.

Market Data | Sep 9, 2020

6 must reads for the AEC industry today: September 9, 2020

What will the 'new normal' look like and the AIA hands out its Twenty-five Year Award.

Market Data | Sep 8, 2020

‘New normal’: IAQ, touchless, and higher energy bills?

Not since 9/11 has a single event so severely rocked the foundation of the commercial building industry.

Market Data | Sep 8, 2020

7 must reads for the AEC industry today: September 8, 2020

Google proposes 40-acre redevelopment plan and office buildings should be an essential part of their communities.

Market Data | Sep 4, 2020

6 must reads for the AEC industry today: September 4, 2020

10 Design to redevelop Nanjing AIrport and TUrner Construction takes a stand against racism.

Market Data | Sep 4, 2020

Construction sector adds 16,000 workers in August but nonresidential jobs shrink

Association survey finds contractor pessimism is increasing.

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