flexiblefullpage
billboard
interstitial1
catfish1
Currently Reading

ABC’s Construction Backlog Indicator rebounds in February

Market Data

ABC’s Construction Backlog Indicator rebounds in February

ABC's Construction Backlog Indicator expanded to 8.8 months in February 2019.


By ABC | April 16, 2019

Associated Builders and Contractors recently reported that its Construction Backlog Indicator expanded to 8.8 months in February 2019, up 0.7 months (8.2%) from January 2019, when the backlog dipped to 8.1 months.

“As predicted, the decreased backlog in the first month of the year reversed in February,” said Anirban Basu, ABC’s chief economist. “Low January readings are typically due to seasonal factors like the holidays and weather, but this year they were further affected by the federal government shutdown. In particular, the backlog in the infrastructure category increased significantly from January to February, which is consistent with the notion that the shutdown delayed a meaningful amount of contract signing.

“The heavy industrial segment was the only category in which backlog declined in February,” said Basu. “In the context of a weakening global economy and a strong dollar, which suppresses U.S. export growth, it is not altogether surprising that construction backlog declined in this category. This also helps explain slightly diminished backlog in the Middle States, which tend to rely more on industrial production. Backlog also bounced back in the commercial/institutional category, an indication of confidence among private developers on both coasts.”

“In general, nonresidential construction activity lags the overall economy by 12 to 18 months,” said Basu. “Last year was good for the economy, with the implication that contractors should expect to remain busy in 2019."

 

 

Related Stories

Market Data | Nov 27, 2023

Number of employees returning to the office varies significantly by city

While the return-to-the-office trend is felt across the country, the percentage of employees moving back to their offices varies significantly according to geography, according to Eptura’s Q3 Workplace Index.

Market Data | Nov 14, 2023

The average U.S. contractor has 8.4 months worth of construction work in the pipeline, as of September 2023

Associated Builders and Contractors reported that its Construction Backlog Indicator declined to 8.4 months in October from 9.0 months in September, according to an ABC member survey conducted from Oct. 19 to Nov. 2. The reading is down 0.4 months from October 2022. Backlog now stands at its lowest level since the first quarter of 2022.

Multifamily Housing | Nov 9, 2023

Multifamily project completions forecast to slow starting 2026

Yardi Matrix has released its Q4 2023 Multifamily Supply Forecast, emphasizing a short-term spike and plateau of new construction.

Contractors | Nov 1, 2023

Nonresidential construction spending increases for the 16th straight month, in September 2023

National nonresidential construction spending increased 0.3% in September, according to an Associated Builders and Contractors analysis of data published today by the U.S. Census Bureau. On a seasonally adjusted annualized basis, nonresidential spending totaled $1.1 trillion.

Market Data | Oct 23, 2023

New data finds that the majority of renters are cost-burdened

The most recent data derived from the 2022 Census American Community Survey reveals that the proportion of American renters facing housing cost burdens has reached its highest point since 2012, undoing the progress made in the ten years leading up to the pandemic.

Contractors | Oct 19, 2023

Crane Index indicates slowing private-sector construction

Private-sector construction in major North American cities is slowing, according to the latest RLB Crane Index. The number of tower cranes in use declined 10% since the first quarter of 2023. The index, compiled by consulting firm Rider Levett Bucknall (RLB), found that only two of 14 cities—Boston and Toronto—saw increased crane counts.

Market Data | Oct 2, 2023

Nonresidential construction spending rises 0.4% in August 2023, led by manufacturing and public works sectors

National nonresidential construction spending increased 0.4% in August, according to an Associated Builders and Contractors analysis of data published today by the U.S. Census Bureau. On a seasonally adjusted annualized basis, nonresidential spending totaled $1.09 trillion.

Giants 400 | Sep 28, 2023

Top 100 University Building Construction Firms for 2023

Turner Construction, Whiting-Turner Contracting Co., STO Building Group, Suffolk Construction, and Skanska USA top BD+C's ranking of the nation's largest university sector contractors and construction management firms for 2023, as reported in Building Design+Construction's 2023 Giants 400 Report. Note: This ranking includes revenue for all university/college-related buildings except student residence halls, sports/recreation facilities, laboratories, S+T-related buildings, parking facilities, and performing arts centers (revenue for those buildings are reported in their respective Giants 400 ranking). 

Construction Costs | Sep 28, 2023

U.S. construction market moves toward building material price stabilization

The newly released Quarterly Construction Cost Insights Report for Q3 2023 from Gordian reveals material costs remain high compared to prior years, but there is a move towards price stabilization for building and construction materials after years of significant fluctuations. In this report, top industry experts from Gordian, as well as from Gilbane, McCarthy Building Companies, and DPR Construction weigh in on the overall trends seen for construction material costs, and offer innovative solutions to navigate this terrain.

Data Centers | Sep 21, 2023

North American data center construction rises 25% to record high in first half of 2023, driven by growth of artificial intelligence

CBRE’s latest North American Data Center Trends Report found there is 2,287.6 megawatts (MW) of data center supply currently under construction in primary markets, reaching a new all-time high with more than 70% already preleased. 

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