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 | Feb 5, 2020

Construction employment increases in 211 out of 358 metro areas from December 2018 to 2019

Dallas-Plano-Irving, Texas and Kansas City have largest gains; New York City and Fairbanks, Alaska lag the most as labor shortages likely kept firms in many areas from adding even more workers.

Market Data | Feb 4, 2020

Construction spending dips in December as nonresidential losses offset housing pickup

Homebuilding strengthens but infrastructure and other nonresidential spending fades in recent months, reversing pattern in early 2019.

Market Data | Feb 4, 2020

IMEG Corp. acquires Clark Engineering

Founded in 1938 in Minneapolis, Clark Engineering has an extensive history of public and private project experience.

Market Data | Jan 30, 2020

U.S. economy expands 2.1% in 4th quarter

Investment in structures contracts.

Market Data | Jan 30, 2020

US construction & real estate industry sees a drop of 30.4% in deal activity in December 2019

A total of 48 deals worth $505.11m were announced in December 2019.

Market Data | Jan 29, 2020

Navigant research report finds global wind capacity value is expected to increase tenfold over the next decade

Wind power is being developed in more countries as well as offshore and onshore.

Market Data | Jan 28, 2020

What eight leading economists predict for nonresidential construction in 2020 and 2021

Public safety, education, and healthcare highlight a market that is entering growth-slowdown mode, but no downturn is projected, according to AIA's latest Consensus Construction Forecast panel.

Market Data | Jan 28, 2020

Los Angeles has the largest hotel construction pipeline in the United States

Los Angeles will have a growth rate of 2.5% with 19 new hotels/2,589 rooms opening.

Market Data | Jan 27, 2020

U.S. hotel construction pipeline finishes 2019 trending upward

Projects under construction continue to rise reaching an all-time high of 1,768 projects.

Market Data | Jan 24, 2020

U.S. Green Building Council releases the top 10 states for LEED

Colorado leads the nation, showing how LEED green buildings support climate action and a better quality of life.

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