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
| Nov 1, 2011
Sasaki expands national sports design studio
Sasaki has also added Stephen Sefton to the sports design studio as senior associate.
| Nov 1, 2011
Holcim awards winners for North America announced
A socio-architectural project to create regional food-gathering nodes and a logistics network in Canada's high arctic territory won the top prize for North America of $100,000.
| Oct 27, 2011
iProspect selects VLK Architects for new office design
Company growth prompted iProspect to make the decision to move to a new space.
| Oct 26, 2011
Metl-Span selected for re-roof project
School remained in session during the renovation and it was important to minimize the disruption as much as possible.
| Oct 26, 2011
Shawmut Design and Construction awarded Tag Heuer build in Aventura, Fla.
New store features 1,200 sf fit out at Aventura Mall.
| Oct 25, 2011
HKS Science & Technology practice formed
Specializing in the planning and design of highly technical building types, HKS’s Science & Technology practice offers the broadest range of services available to the academic and biomedical research, biotechnology, pharmaceutical and medical device community, including laboratory programming, planning and design, strategic science planning and laboratory equipment planning.
| Oct 25, 2011
Universal teams up with Earthbound Corp. to provide streamlined commercial framing solutions
The primary market for the Intact Structural Frame is light commercial buildings that are typically designed with concrete masonry walls, steel joists and steel decks.
| Oct 25, 2011
Ritner Steel CEO elected to AISC Board
Freund will begin serving on the AISC board of directors, assisting with the organization's planning and leadership in the steel construction industry.
| Oct 25, 2011
Commitment to green building practices pays off
The study, conducted by the Pacific Northwest National Laboratory, built on a good indication of the potential for increased productivity and performance pilot research completed two years ago, with similarly impressive results.
| Oct 25, 2011
DOE issues report on financing solar photovoltaic systems for K-12 schools
The report examines the two primary types of ownership models used to obtain solar installations. This analysis can help school administrators across the country select the best option for deploying solar technologies in their school districts.