Associated Builders and Contractors' Construction Backlog Indicator declined to 9.2 months in August, down 0.1 month, according to an ABC member survey conducted from Aug. 21 to Sept. 6. The reading is 0.5 months above the August 2022 level.
Backlog decreased on a monthly basis for all categories of company size except for those with more than $100 million in annual revenues, while only the smallest two revenue categories have higher backlog than in August 2022.
ABC’s Construction Confidence Index reading for sales, profit margins and staffing levels moved higher in August. All three readings remain above the threshold of 50, indicating expectations of growth over the next six months.
“There’s no sign of a construction recession in the near term,” said ABC Chief Economist Anirban Basu. “If anything, contractors are more upbeat, as policy and technology shifts along with economic transformation, are creating substantial demand for improvements and growth in America’s built environment.
“While a plurality of contractors expects only small improvements in sales, profit margins and staffing over the next six months, even incremental improvement is remarkable in the context of tightening credit, higher project financing costs and lingering fears of recession,” said Basu. “Backlog continues to be at the upper end of historic levels, with the infrastructure category registering substantial gains in backlog in August. That suggests that a growing number of public works projects is poised to break ground.”
Related Stories
| Oct 14, 2021
Inside the KCI Airport Terminal Workforce Enhancement Program
The construction and development team for Kansas City International airport's new terminal discuss their Strategic Partnership Program to encourage participation by local minority- and women-owned enterprises, and their Work Training Program to train and hire local KC residents for trade jobs on the KCI Terminal project.
| Oct 14, 2021
The future of mass timber construction, with Swinerton's Timberlab
In this exclusive for HorizonTV, BD+C's John Caulfield sat down with three Timberlab leaders to discuss the launch of the firm and what factors will lead to greater mass timber demand.
Contractors | Oct 13, 2021
Chicago-based Pepper Construction named the most innovative company in the construction industry
Firm wins AGC Innovation Award for developing a virtual reality safety training program.
Multifamily Housing | Oct 12, 2021
Affordable and sublime: 13 projects that represent the future of affordable housing
These projects prove that it’s possible to develop aesthetically pleasing, high-quality housing for low-income families, the homeless, and veterans.
Building Owners | Oct 12, 2021
6 ways building owners can own their construction projects
Building owners have an important role in executing their capital projects and can greatly increase their project’s chances of success by understanding and actively managing a few key factors.
Green | Oct 6, 2021
My reaction to the UN IPCC Climate Change 2021 report: Ugh!
The recent report of the UN Intergovernmental Panel on Climate Change is not a happy read.
Contractors | Oct 4, 2021
GE Johnson joins DPR Construction
GE Johnson joined the DPR Construction family of companies. This offers both companies strategic growth and employee development opportunities.
Sponsored | Glass and Glazing | Oct 1, 2021
Specifying Responsibly to Save Birds’ Lives
Realizing sustainable, bird-friendly glass design
Sponsored | Glass and Glazing | Oct 1, 2021
Seizing the Daylight with BIPV Glass
Glass has always been an idea generator. Now, it’s also a clean energy generator.
Architects | Sep 30, 2021
Riding the great AEC resignation wave
More people than ever are reconsidering what work and career mean. What can AEC firms do to recruit and retain workers in this changing workplace environment? Karl Feldman, Partner with Hinge Marketing, discusses ideas and strategies with BD+C's John Caulfield in this exclusive interview for HorizonTV.