Associated Builders and Contractors reported today that its Construction Backlog Indicator fell to 8.2 months in August, according to an ABC member survey conducted Aug. 20 to Sept. 5. The reading is down 1.0 months from August 2023.
View ABC’s Construction Backlog Indicator and Construction Confidence Index tables for August. View the full Construction Backlog Indicator and Construction Confidence Index data series.
Only the infrastructure category experienced a monthly increase in backlog among the three major segments, reflecting strength in public construction spending. Nonetheless, over the past year, backlog has declined in all three segments.
ABC’s Construction Confidence Index readings for sales, profit margins and staffing levels fell in August. The readings for sales and staffing levels remain above the threshold of 50, indicating expectations for growth over the next six months, while the reading for profit margin expectations fell below that threshold.
“As predicted, confidence among contractors is slipping,” said ABC Chief Economist Anirban Basu. “While ABC contractor members are still anticipating expanding sales and employment, profits margins are increasingly under pressure as project owners face high borrowing and construction delivery costs in the context of a slowing economy. Many projects have been postponed, resulting in recent backlog declines, most notably in the South.”
Related Stories
Building Team | Nov 3, 2022
More than half of U.S. contractors say finding skilled workers is big barrier to their growth
More than half of U.S. contractors (55%) say finding enough skilled workers is one of the biggest barriers to growing their business, according to a DEWALT Powering the Future Survey.
Building Materials | Nov 2, 2022
Design for Freedom: Ending slavery and child labor in the global building materials sector
Sharon Prince, Founder and CEO of Grace Farms and Design for Freedom, discusses DFF's report on slavery and enforced child labor in building products and materials.
Codes and Standards | Nov 2, 2022
New York City construction official wants to boost design-build
The new associate commissioner of alternative delivery in New York City’s Department of Design and Construction aims to encourage more design-build project delivery in the city.
University Buildings | Nov 2, 2022
New Univ. of Calif. Riverside business school building will support hybrid learning
A design-build partnership of Moore Ruble Yudell and McCarthy Building Companies will collaborate on a new business school building at the University of California at Riverside.
40 Under 40 | Nov 1, 2022
40 Under 40 class of 2022 winners: Meet the contractors
Meet the eight all-star construction professionals to be named 40 Under 40 class of 2022 winners by the editors of Building Design+Construction
Building Team | Nov 1, 2022
Nonresidential construction spending increases slightly in September, says ABC
National nonresidential construction spending was up by 0.5% in September, according to an Associated Builders and Contractors analysis of data published today by the U.S. Census Bureau.
K-12 Schools | Nov 1, 2022
Safety is the abiding design priority for K-12 schools
With some exceptions, architecture, engineering, and construction firms say renovations and adaptive reuse make up the bulk of their work in the K-12 schools sector.
| Nov 1, 2022
Updated Florida building codes helped newer homes withstand Hurricane Ian
Newer homes seemed to fare much better than older structures during Hurricane Ian, suggesting that updated Florida building codes made a difference.
Wood | Nov 1, 2022
A European manufacturer says its engineered wood products can store carbon for decades
Metsä Wood, a Finland-based manufacturer of engineered wood products, says its sustainable, material-efficient products can store carbon for decades, helping to combat climate change.
Data Centers | Oct 31, 2022
Data center construction facing record-breaking inflation, delays
Data center construction projects face record-breaking inflation amid delays to materials deliveries and competition for skilled labor, according to research from global professional services company Turner & Townsend.
