Associated Builders and Contractors reports today that its Construction Backlog Indicator increased to nine months in May from 8.8 months in April, according to an ABC member survey conducted May 17 to June 3. The reading is up one month from May 2021.
View ABC’s Construction Backlog Indicator and Construction Confidence Index tables for May 2022.
Backlog in the infrastructure segment jumped from 8.7 months in April to 9.3 months in May, and the Northeast and South regions continue to outperform the Middle States and the West. Contractors with more than $100 million in annual revenues enjoyed the highest backlog, at 13.2 months.
ABC’s Construction Confidence Index readings for sales, profit margins and staffing levels declined in May. The indices for sales and staffing remain above the threshold of 50, indicating expectations of growth over the next six months, while the reading for profit margins was exactly 50 for the month.
“It is simply remarkable that contractors continue to add to backlog amidst global strife, rising materials prices and ubiquitous labor force challenges,” said ABC Chief Economist Anirban Basu. “Backlog is up in every segment over the past year, including in the somewhat shaky commercial category. The largest increase in backlog has been registered in the industrial segment. More American companies are committing to place additional supply chain capacity in the United States, with Intel and Ford representing particularly recent and noteworthy examples.
“For contractors, the challenge will continue to be the cost of delivering construction services,” said Basu. “The risk of severe increases in costs and substantial delays in delivery remains elevated given the volatility in input prices, the propensity of the labor force to shift jobs in large numbers and equipment shortages and delays. This ABC survey indicates that the proportion of contractors who expect that profit margins will expand over the next six months is declining, a reflection of lingering, worsening supply chain challenges.”
Note: The reference months for the Construction Backlog Indicator and Construction Confidence Index data series were revised on May 12, 2020, to better reflect the survey period. CBI quantifies the previous month’s work under contract based on the latest financials available, while CCI measures contractors’ outlook for the next six months.
Related Stories
| Aug 11, 2010
Silver Award: Hanna Theatre, Cleveland, Ohio
Between February 1921 and November 1922 five theaters opened along a short stretch of Euclid Avenue in downtown Cleveland, all of them presenting silent movies, legitimate theater, and vaudeville. During the Great Depression, several of the theaters in the unofficial “Playhouse Square” converted to movie theaters, but they all fell into a death spiral after World War II.
| Aug 11, 2010
Biograph Theater
Located in Chicago's Lincoln Park neighborhood, Victory Gardens Theater Company has welcomed up-and-coming playwrights for 33 years. In 2004, the company expanded its campus with the purchase of the Biograph Theater for its new main stage. Built in 1914, the theater was one of the city's oldest remaining neighborhood movie houses, and it was part of Chicago's gangster lore: in 1934, John Dillin...
| Aug 11, 2010
Special Recognition: Triple Bridge Gateway, Port Authority Bus Terminal New York, N.Y.
Judges saw the Triple Bridge Gateway in Midtown Manhattan as more art installation than building project, but they were impressed at how the illuminated ramps and bridges—14 years in the making—turned an ugly intersection into something beautiful. The three bridges span 9th Avenue at the juncture where vehicles emerge from the Lincoln Tunnel heading to the Port Authority of New Yor...
| Aug 11, 2010
World's tallest all-wood residential structure opens in London
At nine stories, the Stadthaus apartment complex in East London is the world’s tallest residential structure constructed entirely in timber and one of the tallest all-wood buildings on the planet. The tower’s structural system consists of cross-laminated timber (CLT) panels pieced together to form load-bearing walls and floors. Even the elevator and stair shafts are constructed of prefabricated CLT.
| Aug 11, 2010
Setting the Green Standard For Community Colleges
“Ohlone College Newark Campus Is the Greenest College in the World!” That bold statement was the official tagline of the festivities surrounding the August 2008 grand opening of Ohlone College's LEED Platinum Newark (Calif.) Center for Health Sciences and Technology. The 130,000-sf, $58 million community college facility stacks up against some of the greenest college buildings in th...
| Aug 11, 2010
School Project Offers Lessons in Construction Realities
Imagine this scenario: You're planning a $32.9 million project involving 112,000 sf of new construction and renovation work, and your job site is an active 32-acre junior-K-to-12 school campus bordered by well-heeled neighbors who are extremely concerned about construction noise and traffic. Add to that the fact that within 30 days of groundbreaking, the general contractor gets canned.
| Aug 11, 2010
CityCenter Takes Experience Design To New Heights
It's early June, in Las Vegas, which means it's very hot, and I am coming to the end of a hardhat tour of the $9.2 billion CityCenter development, a tour that began in the air-conditioned comfort of the project's immense sales center just off the famed Las Vegas Strip and ended on a rooftop overlooking the largest privately funded development in the U.
| Aug 11, 2010
University of Arizona College of Medicine
The hope was that a complete restoration and modernization would bring life back to three neoclassic beauties that formerly served as Phoenix Union High School—but time had not treated them kindly. Built in 1911, one year before Arizona became the country's 48th state, the historic high school buildings endured nearly a century of wear and tear and suffered major water damage and years of...
| Aug 11, 2010
Top of the rock—Observation deck at Rockefeller Center
Opened in 1933, the observation deck at Rockefeller Center was designed to evoke the elegant promenades found on the period's luxury transatlantic liners—only with views of the city's skyline instead of the ocean. In 1986 this cultural landmark was closed to the public and sat unused for almost two decades.
| Aug 11, 2010
200 Fillmore
Built in 1963, the 32,000-sf 200 Fillmore building in Denver housed office and retail in a drab, outdated, and energy-splurging shell—a “style” made doubly disastrous by 200 Fillmore's function as the backdrop for a popular public plaza and outdoor café called “The Beach.
