flexiblefullpage
billboard
interstitial1
catfish1
Currently Reading

Construction backlog indicator reaches all-time high in second quarter

Construction backlog indicator reaches all-time high in second quarter

"The long-awaited brisk nonresidential construction recovery may be upon us," said ABC Chief Economist Anirban Basu.


By Associated Builders and Contractors | August 20, 2014
Associated Builders and Contractors (ABC) Construction Backlog Indicator (CBI) reached an all-time high in the second quarter of 2014. CBI improved 5.4 percent following a 2.8 percent decline in the first quarter and currently stands at 8.5; up 3.6 percent on a year-over-year basis.
Ā 
"The long-awaited brisk nonresidential construction recovery may be upon us," said ABC Chief Economist Anirban Basu. "Industry momentum was snuffed out by a seemingly endless winter, but the pace of industry recovery has been accelerating ever since. Backlog gains were nearly ubiquitous during the second quarter, with gains registered in every industry segment, in nearly all geographies and for firms of virtually all sizes.
Ā 
"Further increases in construction backlog are likely given remarkably accommodative Federal Reserve policy even after five completed years of economic expansion, accelerated job growth and rising consumer confidence," said Basu. "The nation has added roughly 2.5 million jobs over the past year, consistent with growing demand for space. Financing conditions have also improved, which should set the stage for more rapid nonresidential construction recovery in a number of key construction segments, including office (classified within commercial/institutional) and manufacturing (classified within heavy industrial) segments."
Ā 
Ā 

Regional Highlights

  • Backlog in the South has fallen just below 9 months, down from 9.14 months in the first quarter and from 9.05 months a year ago.Ā 
  • The Northeast's backlog now stands at Ā 9.36 months, which is still slightly below where it was this time last year (9.41 months), but an improvement from 8.34 months in the first quarter.Ā 
  • Backlog in the Middle States is now at 6.42 months compared to 6.32 months a year ago and 6.16 months in the first quarter of 2014.
  • The West's backlog stands at 9.22 months, up significantly from 8.21 months on a year-over-year basis and 8.09 months from last quarter.Ā 

Ā 

Industry Highlights

  • The commercial and institutional segment is just shy of its longest backlog recorded in CBI history at 8.90 months, up from 8.66 months one year ago and 8.44 months in the first quarter.
  • Backlog in the heavy industrial segment gained nearly a full month from the first quarter and now stands at 6 months, up from 5.08 months in the first quarter and 5.8 months from the second quarter of 2013.
  • Backlog in the infrastructure segment improved to 8.61 months from 7.93 months in the first quarter but is down from 8.96 on a year-over-year basis.

Ā 

Highlights by Company Size

  • The smallest firms, those with revenue less than $30 million, saw their backlog increase to 7.59 months, up from 7.16 months in the first quarter and 6.96 from the second quarter of 2013.
  • Backlog from firms with $30-$50 million in revenue increased to 8.97 months, a significant increase from 7.58 months year over year and from 7.9 months from last quarter.
  • Firms with revenue between $50-$100 million now have the longest backlog at 11.3 months, up from 10.69 months in the first quarter but down from 11.57 months a year ago.
  • The largest firms, those with revenue over $100 million, saw their backlog decrease to 11.16 months from 11.7 months last quarter and 12.25 months a year ago.

Related Stories

| Jan 16, 2012

Mid-Continent Tower wins 25 Year Award from AIA Eastern Oklahoma

Designed by Dewberry, iconic tower defines Tulsaā€™s skyline.

| Jan 16, 2012

Suffolk completes construction on progressive operating suite

5,700 square-foot operating suite to be test bed for next generation of imaged-guided operating techniques.

| Jan 15, 2012

Hollister Construction Services oversees interior office fit-out for Harding Loevner

The work includes constructing open space areas, new conference, trading and training rooms, along with multiple kitchenettes.Ā 

| Jan 15, 2012

Smith Consulting Architects designs Flower Hill Promenade expansion in Del Mar, Calif.

The $22 million expansion includes a 75,000-square-foot, two-story retail/office building and a 397-car parking structure, along with parking and circulation improvements and new landscaping throughout.

| Jan 15, 2012

535 Madison Avenue achieves LEED Gold certification

Class-A commercial building meets sustainability requirements of LEED Program.

| Jan 12, 2012

CSHQA receives AIA Northwest & Pacific Region Merit Award for Idaho State Capitol restoration

After a century of service, use, and countless modifications which eroded the historical character of the building and grounds, the restoration brought the 200,000-sf building back to its former grandeur by restoring historical elements, preserving existing materials, and rehabilitating spaces for contemporary uses.

| Jan 12, 2012

Stellar earns construction industry's most prestigious safety award

Now widely accepted as the construction industry's standard measure of safety performance, the STEP awards were established in 1989 to evaluate and improve safety practices and recognize outstanding safety efforts.Ā 

| Jan 12, 2012

Building independence: New take on female power

Memoir explores historic engineering project, women's empowerment era.

| Jan 12, 2012

3M takes part in Better Buildings Challenge

As a partner in the challenge, 3M has committed to reduce energy use by 25% in 78 of its plants, encompassing nearly 38 million-sf of building space.

| Jan 11, 2012

DOE announces guide for 50% more energy efficient retail buildings

The 50% AEDG series provides a practical approach for designers and builders of retail stores, and other major commercial building types, to achieve 50% energy savings compared to the building energy code used in many parts of the nation.Ā 

boombox1
boombox2
native1

More In Category



Codes and Standards

New FEMA rules include climate change impacts

FEMAā€™s new rules governing rebuilding after disasters will take into account the impacts of climate change on future flood risk. For decades, the agency has followed a 100-year floodplain standardā€”an area that has a 1% chance of flooding in a given year.


Construction Costs

Data center construction costs for 2024

Gordianā€™s data features more than 100 building models, includingĀ computer data centers. These localized models allow architects, engineers, and other preconstruction professionals to quickly and accurately create conceptual estimates for futureĀ builds. This table shows a five-year view of costs per square footĀ forĀ one-story computer data centers.Ā 

halfpage1

Most Popular Content

  1. 2021 Giants 400 Report
  2. Top 150 Architecture Firms for 2019
  3. 13 projects that represent the future of affordable housing
  4. Sagrada Familia completion date pushed back due to coronavirus
  5. Top 160 Architecture Firms 2021

Ā