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
Office Buildings | Mar 7, 2015
Chance encounters in workplace design: The winning ticket to the innovation lottery?
The logic behind the push to cultivate chance encounters supposes that innovation is akin to a lottery. But do chance encounters reliably and consistently yield anything of substance?
Justice Facilities | Mar 5, 2015
New courthouse blossoms into a civic space for one California town
The building's canopy suggests classical courthouse features of front porch and portico. It also helps connect the building with a public plaza that has re-centered civic activity and public gathering for the town.
Justice Facilities | Mar 5, 2015
State of the state: How state governments are funding construction projects
State budget shortfalls are making new construction and renovation projects a tough sell, leading lawmakers to seek alternative funding for these jobs.
Museums | Mar 5, 2015
A giant, silver loop in Dubai will house the Museum of the Future
The Sheikh of Dubai hopes the $136 million museum will serve as an incubator for ideas and real designs—a global destination for inventors and entrepreneurs.
Codes and Standards | Mar 5, 2015
Charlotte, N.C., considers rule for gender-neutral public bathrooms
A few other cities, including Philadelphia, Austin, Texas, and Washington D.C., already have gender-neutral bathroom regulations.
Codes and Standards | Mar 5, 2015
FEMA cuts off funding to Indiana after Kokomo continues building stadium in flood zone
FEMA will withhold funding on $5.5 million worth of projects such as building tornado safe rooms in schools.
Codes and Standards | Mar 5, 2015
Construction problems at prison spur support to quash non-traditional project delivery in Iowa
Iowa lawmakers are investigating construction problems at the Fort Madison prison project and are scrutinizing rules regarding project delivery on state projects.
Reconstruction & Renovation | Mar 5, 2015
Chicago's 7 most endangered properties
Preservation Chicago released its annual list of historic buildings that are at risk of being demolished or falling into decay.
Office Buildings | Mar 5, 2015
Goettsch Partners unveils plans for dual office towers in Warsaw
The Mennica Legacy Tower development is divided into a 35-story tower located on the south east side of the site and a 10-story building on the west side.
Hotel Facilities | Mar 4, 2015
Hotel construction pipeline reaches six-year high
After a three-year bottoming formation, the pipeline for hotel construction has posted five consecutive quarters of double-digit year-over-year growth.