Associated Builders and Contractors reported today that its Construction Backlog Indicator declined to 8.7 months in March, according to an ABC member survey conducted March 20 to April 3. The reading is 0.4 months higher than in March 2022.
View ABC’s Construction Backlog Indicator and Construction Confidence Index tables for March. View the historic Construction Backlog Indicator and Construction Confidence Index data series.
Backlog slipped in March and is now at its lowest level since August 2022. Backlog is down on a monthly basis in every region except for the South, which continues to be associated with elevated levels of current and future construction activity.
ABC’s Construction Confidence Index reading for sales inched higher in March, while the readings for profit margins and staffing levels fell. All three readings remain above the threshold of 50, indicating expectations of growth over the next six months.
“The deceleration in nonresidential construction activity may have started,” said ABC Chief Economist Anirban Basu. “With widespread fears of recession, credit conditions tightening and more decision-makers turning their attention to cost containment, new construction work may be more difficult for contractors to line up.
“While the confidence and backlog data weakened in March, they indicate a slowing of activity rather than a shift into reverse,” said Basu. “There is a widely held view that financial conditions are tightening in the aftermath of the failures of Silicon Valley Bank and Signature Bank. To the extent that this is true, one could anticipate further slowing and less industry confidence during the months ahead.”
Related Stories
| Dec 29, 2014
Clayco lends operational support and financing to construction services startups [BD+C's 2014 Great Solutions Report]
Design-build firm Clayco has launched an investment arm called Treehouse Adventures to provide financing and operational infrastructure to startups, including those serving the AEC industry. The new venture was named a 2014 Great Solution by the editors of Building Design+Construction.
| Dec 29, 2014
Reef Worlds to build world’s largest underwater theme park for luxury resort [BD+C's 2014 Great Solutions Report]
Dubai is known for its gargantuan commercial building projects. The latest to be proposed is the world’s largest underwater theme park, designed and built by Reef Worlds. The project was named a 2014 Great Solution by the editors of Building Design+Construction.
| Dec 29, 2014
New data-gathering tool for retail designers [BD+C's 2014 Great Solutions Report]
Beacon technology personalizes smartphone messaging, creating a new information resource for store designers. It was named a 2014 Great Solution by the editors of Building Design+Construction.
| Dec 29, 2014
Leo A Daly's minimally invasive approach to remote field site design [BD+C's 2014 Great Solutions Report]
For the past six years, Leo A Daly has been designing sites for remote field stations with near-zero ecological disturbance. The firm's environmentally delicate work was named a 2014 Great Solution by the editors of Building Design+Construction.
| Dec 29, 2014
Wearable job site management system allows contractors to handle deficiencies with subtle hand and finger gestures [BD+C's 2014 Great Solutions Report]
Technology combines a smartglass visual device with a motion-sensing armband to simplify field management work. The innovation was named a 2014 Great Solution by the editors of Building Design+Construction.
| Dec 29, 2014
From Ag waste to organic brick: Corn stalks reused to make construction materials [BD+C's 2014 Great Solutions Report]
Ecovative Design applies its cradle-to-cradle process to produce 10,000 organic bricks used to build a three-tower structure in Long Island City, N.Y. The demonstration project was named a 2014 Great Solution by the editors of Building Design+Construction.
| Dec 29, 2014
14 great solutions for the commercial construction market
Ideas are cheap. Solutions are what count. The latest installment in BD+C's Great Solutions series presents 14 ways AEC professionals, entrepreneurs, and other clever folk have overcome what seemed to be insoluble problems—from how to make bricks out of agricultural waste, to a new way to keep hospitals running clean during construction.
| Dec 29, 2014
HealthSpot station merges personalized healthcare with videoconferencing [BD+C's 2014 Great Solutions Report]
The HealthSpot station is an 8x5-foot, ADA-compliant mobile kiosk that lets patients access a network of board-certified physicians through interactive videoconferencing and medical devices. It was named a 2014 Great Solution by the editors of Building Design+Construction.
| Dec 28, 2014
Robots, drones, and printed buildings: The promise of automated construction
Building Teams across the globe are employing advanced robotics to simplify what is inherently a complex, messy process—construction.
BIM and Information Technology | Dec 28, 2014
The Big Data revolution: How data-driven design is transforming project planning
There are literally hundreds of applications for deep analytics in planning and design projects, not to mention the many benefits for construction teams, building owners, and facility managers. We profile some early successful applications.
