Associated Builders and Contractors reports today that its Construction Backlog Indicator declined 0.2 months to 9.0 in January, according to an ABC member survey conducted Jan. 20 to Feb. 3. The reading is 1.0 month higher than in January 2022.
View ABC’s Construction Backlog Indicator and Construction Confidence Index tables for January. View the historical Construction Backlog Indicator and Construction Confidence Index data series.
Despite the decline in January, backlog remains elevated by historical standards and is 0.1 months higher than in February 2020, the month before the COVID-19 pandemic began to impact the economy.
ABC’s Construction Confidence Index reading for sales, profit margins and staffing levels increased in January. All three readings remain above the threshold of 50, indicating expectations of growth over the next six months.
“Despite extremely elevated borrowing costs, worker shortages and a generally downcast economic outlook, contractor confidence rebounded in January to a level not seen since the first half of 2022,” said ABC Chief Economist Anirban Basu. “Given the recent employment report, the U.S. economy continues to fend off recession. Some economists have concluded that rather than a hard or soft landing, the U.S. economy is headed for ‘no landing,’ meaning that economic growth will continue despite rising interest rates.
“However, the incredibly strong January jobs report makes it more likely that the Federal Reserve will maintain higher borrowing costs for a longer period,” said Basu. “Eventually, that could cause the economic expansion to unravel, perhaps later this year. That could set the stage for diminished backlog and less confidence for contractors that specialize in privately financed projects as 2024 approaches.”
Related Stories
| Dec 20, 2013
Can energy hogs still be considered efficient buildings? Yes, say engineers at Buro Happold
A new tool from the engineering firm Buro Happold takes into account both energy and economic performance of buildings for a true measure of efficiency.
| Dec 20, 2013
Ten spectacular contemporary churches [slideshow]
German building-information provider Emporis compiles a photographic tour of inspirational spaces.
| Dec 19, 2013
NRDC report relates green infrastructure investments to commercial property value [Infographic]
The Natural Resources Defense Council has released The Green Edge: How Commercial Property Investment in Green Infrastructure Creates Value -- a first-ever illustrative and well-documented report that helps demonstrate the value of green infrastructure. It draws from available published material to capture the multitude of tangible, monetizable non-water quality and water quality benefits that green infrastructure investments (trees, rain gardens, and porous pavement, rainwater harvesting cisterns, bioswales, etc.) can unlock for the commercial real estate sector, including commercial property owners and their tenants.
| Dec 19, 2013
Mastering the art of crowd control and visitor flow in interpretive facilities
To say that visitor facility planning and design is challenging is an understatement. There are many factors that determine the success of a facility. Unfortunately, visitor flow, the way people move and how the facility accommodates those movements, isn’t always specifically considered.
| Dec 19, 2013
Urban populations, climate change demand resilient design: Report
With over fifty percent of the population already living in urban areas, cities must grapple with the potentially catastrophic effects of climate change (think: Superstorm Sandy in New York). In a new report, Jones Lang LaSalle has identified steps cities can take to make their infrastructure more resilient to changing climate conditions.
| Dec 18, 2013
Architecture Billings Index takes step back in November
After six months of steadily increasing demand for design services, the Architecture Billings Index paused in November, dipping below 50 for just the second time in 2013.
| Dec 17, 2013
NREL, National Trust offer energy roadmap for small buildings and small portfolios
The National Renewable Energy Laboratory and the National Trust for Historic Preservation’s Preservation Green Lab initiative have released the report “Industry Research and Recommendations for Small Buildings and Small Portfolios,” analyzing untapped opportunities in energy savings.
| Dec 17, 2013
Nation's largest net-zero K-12 school among winners of 2013 Best of Green Schools award
The Lady Bird Johnson Middle School in Irving, Texas, was named a winner of USGBC's annual award, along with nine other schools, individuals and communities working toward the common goal of healthy, high-performing learning places.
| Dec 17, 2013
IBM's five tech-driven innovation predictions for the next five years [infographics]
Smart classrooms, DNA-based medical care, and wired cities are among the technology-related innovations identified by IBM researchers for the company's 5 in 5 report.
| Dec 16, 2013
Is the metal building industry in a technology shift?
Automation is the future you can’t avoid, though you may try. Even within the metal building industry—which is made up of skilled tradesmen—automation has revolutionized, and will continue revolutionizing, how we work.