Associated Builders and Contractors reported today that its Construction Backlog Indicator increased to 8.4 months in June, according to an ABC member survey conducted June 20 to July 3. The reading is down 0.5 months from June 2023.
View ABC’s Construction Backlog Indicator and Construction Confidence Index tables for June. View the full Construction Backlog Indicator and Construction Confidence Index data series.
The entire decline in backlog observed over the past calendar year is attributable to the Middle States and Northeast. Backlog in the South and West regions was unchanged between June 2023 and June 2024.
ABC’s Construction Confidence Index readings for sales and staffing levels fell slightly in June, while the reading for profit margins improved. All three readings remain above the threshold of 50, indicating expectations for growth over the next six months.
“Backlog continues to hold up remarkably well despite high interest rates, inflation and emerging weakness in the broader economy," said ABC Chief Economist Anirban Basu. “While contractor confidence regarding the outlook for sales and staffing levels fell modestly in June, all three Construction Confidence Index components are higher than they were one year ago.
“The combination of slowing inflation and softening growth suggests that the Federal Reserve may begin to lower interest rates as soon as September,” said Basu. “That will buoy backlog as some of the softer construction segments, like office and commercial, benefit from lower borrowing costs and looser lending standards.”
Related Stories
| Dec 6, 2011
Mortenson Construction completes Elk Wind Project in Iowa
By the end of 2011, Mortenson will have built 17 wind projects in the state generating a total of 1894 megawatts of renewable power.
| Dec 6, 2011
?ThyssenKrupp acquires Sterling Elevators Services
The acquisition of Sterling Elevator Services Corporation is the third acquisition completed by ThyssenKrupp Elevator AG in the last three months in North America.
| Dec 6, 2011
Vivenzio named vice president of building performance practice at Thornton Tomasetti’s New York Office
Vivenzio, a licensed architect in New York and New Jersey, has more than 28 years of experience in architectural project management, construction administration, building diagnostic services and forensic investigation.
| Dec 6, 2011
New office building features largest solar panel system in New Orleans
Woodward Design+Build celebrates grand opening of new green headquarters in Central City.
| Dec 5, 2011
New York and San Francisco receive World Green Building Council's Government Leadership Awards
USGBC commends two U.S. cities for their innovation in green building leadership.
| Dec 5, 2011
Summit Design+Build begins renovation of Chicago’s Esquire Theatre
The 33,000 square foot building will undergo an extensive structural remodel and core & shell build-out changing the building’s use from a movie theater to a high-end retail center.
| Dec 5, 2011
Fraser Brown MacKenna wins Green Gown Award
Working closely with staff at Queen Mary University of London, MEP Engineers Mott MacDonald, Cost Consultants Burnley Wilson Fish and main contractor Charter Construction, we developed a three-fold solution for the sustainable retrofit of the building.
| Dec 5, 2011
RJM Construction begins building Nova Classical Academy in St. Paul
As the general contractor, RJM is constructing the 94,000-sf building that will consolidate the St. Paul school’s two other locations.
| Dec 5, 2011
Gables Residential brings mixed-use building to Houston's Tanglewood area
The design integrates a detailed brick and masonry facade, acknowledging the soft pastel color palette of the surrounding Mediterranean heritage of Tanglewood.
