Associated Builders and Contractors' Construction Backlog Indicator increased to 8.9 months in April from 8.7 in March, according to an ABC member survey conducted April 20 to May 3. The reading is 0.1 months higher than in April 2022.
After declining to a seven-month low in March, backlog rebounded in April due to strength in the infrastructure category. Regionally, backlog increased in the Northeast and West but fell in the South and middle states.
ABC’s Construction Confidence Index reading for sales and staffing moved higher in April, while the readings for profit margins inched lower. All three readings remain above the threshold of 50, indicating expectations of growth over the next six months.
“Based on ABC member sentiment, one would not be able to discern that interest rates are high, the nation’s banking sector is in tumult, politicians are arguing over the nation’s debt limit and recession fears remain pervasive,” said ABC Chief Economist Anirban Basu. “Despite many headwinds and an active news cycle, contractors continue to express confidence in the near term.
“Still, there is some evidence of a shift,” said Basu. “With credit conditions tightening, expectations are that private construction is poised for weaker times ahead. Nonetheless, backlog expanded in April, as infrastructure contractors began to take on more public works projects. Moreover, despite rapidly rising compensation costs, more ABC contractors expect profit margins to expand as opposed to recede over the next six months, evidence of sufficiently strong demand for construction services to support pricing power.”
Related Stories
| Feb 28, 2012
Griffin Electric completes Medical University of South Carolina project
The 210,000-sf complex is comprised of two buildings, and houses research, teaching and office areas, plus conference spaces for the University.
| Feb 27, 2012
Consigli complete first building for Bigelow Ocean Sciences Campus
Designed by WBRC Architects Engineers in association with Perkins + Will.
| Feb 27, 2012
Hollister completes fit-out of 41,500-sf office space in Princeton, N.J.
Intricate interior project involved construction of more than 80 offices.
| Feb 27, 2012
Research Institute at Texas Children’s Hospital building receives LEED Gold
Innovative and sustainable design reflects best environmental building practices.
| Feb 26, 2012
Milwaukee U-Haul facility receives LEED-CI Silver
The new elements of the facility now include: efficient lighting with day-lighting controls and occupancy sensors, a high-efficiency HVAC system used in conjunction with a newly constructed thermal envelope to help reduce energy consumption, and the installation of low-flow fixtures to reduce water consumption.
| Feb 26, 2012
Hollister Construction awarded 42,000-sf office fit-out in Holtsville, N.Y.
Space leased by U.S. General Service Administration.
| Feb 26, 2012
Alvarez-Glasman & Colvin’s Chen LEED certified
Chen works closely with property owners to ensure that their properties meet and exceed all industry standards, and also provide long-term energy savings.
| Feb 24, 2012
ABI remains positive for three straight months
The AIA reported the January ABI score was 50.9, following a mark of 51.0 in December.
| Feb 24, 2012
Larry Lord joins HDR Architecture as south region science and technology director
A founding partner at Lord, Aeck & Sargent, Lord is nationally renowned for his leadership in architecture for complex projects.
