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

Coronavirus | Mar 20, 2020

Pandemic has halted or delayed projects for 28% of contractors

Coronavirus-caused slowdown contrasts with January figures showing a majority of metro areas added construction jobs; Officials note New infrastructure funding and paid family leave fixes are needed.

Market Data | Mar 17, 2020

Construction spending to grow modestly in 2020, predicts JLL’s annual outlook

But the coronavirus has made economic forecasting perilous.

Market Data | Mar 16, 2020

Grumman/Butkus Associates publishes 2019 edition of Hospital Benchmarking Survey

Report examines electricity, fossil fuel, water/sewer, and carbon footprint.

Market Data | Mar 12, 2020

New study from FMI and Autodesk finds construction organizations with the highest levels of trust perform twice as well on crucial business metrics

Higher levels of trust within organizations and across project teams correlate with increased profit margins, employee retention and repeat business that can all add up to millions of dollars of profitability annually.

Market Data | Mar 11, 2020

The global hotel construction pipeline hits record high at 2019 year-end

Projects currently under construction stand at a record 991 projects with 224,354 rooms.

Market Data | Mar 6, 2020

Construction employment increases by 43,000 in February and 223,000 over 12 months

Average hourly earnings in construction top private sector average by 9.9% as construction firms continue to boost pay and benefits in effort to attract and retain qualified hourly craft workers.

Market Data | Mar 4, 2020

Nonresidential construction spending attains all-time high in January

Private nonresidential spending rose 0.8% on a monthly basis and is up 0.5% compared to the same time last year.

Market Data | Feb 21, 2020

Construction contractor confidence remains steady

70% of contractors expect their sales to increase over the first half of 2020.

Market Data | Feb 20, 2020

U.S. multifamily market gains despite seasonal lull

The economy’s steady growth buoys prospects for continued strong performance.

Market Data | Feb 19, 2020

Architecture billings continue growth into 2020

Demand for design services increases across all building sectors.

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