flexiblefullpage
billboard
interstitial1
catfish1
Currently Reading

The average U.S. contractor has 8.4 months worth of construction work in the pipeline, as of January 2024

Contractors

The average U.S. contractor has 8.4 months worth of construction work in the pipeline, as of January 2024

“As predicted, performance in the nonresidential construction sector is becoming more disparate across segments,” said ABC Chief Economist Anirban Basu. 


By Associated Builders and Contractors | February 13, 2024
The average U.S. contractor has 8.4 months worth of construction work in the pipeline, as of January 2024, Image by Hans from Pixabay
Image by Hans from Pixabay

Associated Builders and Contractors reported that its Construction Backlog Indicator declined to 8.4 months in January, according to an ABC member survey conducted from Jan. 22 to Feb. 4. The reading is down 0.6 months from January 2023.

Backlog increased to 10.9 months in the heavy industrial category, the highest reading on record for that category, and is 2.5 months higher than in January 2023. Backlog is down on a year-over-year basis in the commercial/institutional and infrastructure categories.

ABC’s Construction Confidence Index readings for sales and staffing levels increased in January, while the reading for profit margins declined. All three readings remain above the threshold of 50, indicating expectations for growth over the next six months.

“As predicted, performance in the nonresidential construction sector is becoming more disparate across segments,” said ABC Chief Economist Anirban Basu. “For much of the pandemic recovery period, contractors in virtually all segments were indicating stable to rising backlog. That remains the case for contractors most exposed to the nation’s industrial production. Reshoring and near-shoring continue to drive construction spending.

“In other categories, however, including those most interest rate-sensitive, activity appears to be slowing,” said Basu. “Developer financing has become both more expensive and more difficult to obtain over roughly the past year, in part because of rising office vacancy in many markets. That helps to explain declining backlog in the commercial category. The decline in infrastructure-related backlog may be due only to seasonality, however. There is every reason to believe that contractors specializing in public works will have a very busy year.”

Construction Backlog Indicator, Associated Builders and Contractors, January 2024

Related Stories

| Sep 14, 2011

Thornton Tomasetti’s Poon named to the Council on Tall Buildings and Urban Habitat’s Board of Trustees

 During his 30-plus years of experience, Poon has been responsible for the design and construction of super high-rise structures, mixed-used buildings, hotels, airports, arenas and residential buildings worldwide. 

| Sep 12, 2011

LACCD’s $6 billion BIM connection

 The Los Angeles Community College District requires every design-build team in its massive modernization program to use BIM, but what they do with their 3D data after construction is completed may be the most important change to business as usual.

| Sep 12, 2011

PVs play new roles as a teaching tool

Solar installations are helping K-12 schools around the country save money and teach students the intricacies of renewable energy sources.

| Sep 12, 2011

Living Buildings: Are AEC Firms up to the Challenge?

Modular Architecture > You’ve done a LEED Gold or two, maybe even a LEED Platinum. But are you and your firm ready to take on the Living Building Challenge? Think twice before you say yes.

| Sep 9, 2011

Hardinger joins Ryan Companies as vice president, mission critical

He will lead the Ryan team responsible for building and developing data centers and other mission-critical projects, and will oversee business development, client relationships, executive level communications and overall marketing strategies for the division.

| Sep 8, 2011

Boldt Co. reaches 4 million hours with a lost time accident

Four million hours. That’s an average of over 2,600 continuous safe work hours completed by every employee—the equivalent of one person working 24 hours a day for over 450 years. 

| Sep 7, 2011

KSS Architects wins AIA NJ design award

The project was one of three to win the award in the category of Architectural/Non-Residential. 

| Aug 31, 2011

Wythe Confectionary renovation in Brooklyn completed

Renovation retains architectural heritage while reflecting a modern urban lifestyle.

| Aug 31, 2011

Balfour Beatty Construction hires Portnoy to lead public-private partnerships

 Portnoy will help lead and coordinate the pursuit and delivery of public-private partnerships within all of the company’s U.S. regions.

| Aug 24, 2011

Deadline Extended: 2012 "Best AEC Firms to Work For” Awards

We’re looking for firms that create truly positive workplaces for their AEC professionals and support staff. In other words, this awards program will recognize those AEC firms that nurture and develop their most valuable asset—their people.

boombox1
boombox2
native1

More In Category


Curtain Wall

7 steps to investigating curtain wall leaks

It is common for significant curtain wall leakage to involve multiple variables. Therefore, a comprehensive multi-faceted investigation is required to determine the origin of leakage, according to building enclosure consultants Richard Aeck and John A. Rudisill with Rimkus. 



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