Following an intense winter season, the Associated Builders and Contractors' Construction Backlog Indicator (CBI) revealed a 3.2% decline during the first quarter of 2015.
According to ABC, construction firms across the country reported a revenue-weighted average CBI of 8.4 months, 0.3 months below the final quarter of 2014.
The Northeast saw its backlog decline by 10.2%, a change of 1.04 months from the fourth quarter of last year. The Middle States reported a 0.7% decline to 0.05 months in construction backlog and the West experienced a 25.3% drop or 1.88 months. The South was the only region to report an increase in construction backlog as it rose 5.9% or 0.55 months.
"Weather and a myriad of other factors always make the first quarter CBI difficult to interpret," said ABC Chief Economist Anirban Basu. "A brutal winter may have postponed project-related work, including the signing of contracts. The first quarters of 2012 and 2014 also experienced CBI declines that effectively were reversed during the ensuing second quarters."
Additionally, sharp reductions in oilfield investment affected companies in the Middle States while the West Coast port slowdown impacted firms on the western side of the country. However, the backlog should re-establish an upward trend as the year's warmer months approach and ports return to normal.
Despite the backlog decline, continued job growth, low fuel prices, and wage gains are expected to lead to an increase in consumer spending.
Related Stories
| Nov 20, 2012
SchenkelShultz-designed Valencia at Lake Nona certified 3 Green Globes
Featuring the latest technologies, the three-story, academic facility includes academic spaces and teaching laboratories, student services, a book store, library, café, a Dean’s suite and administrative offices.
| Nov 14, 2012
U.S. Green Building Council partners with Pearson
Partnership will help further USGBC’s mission by advancing green building education
| Nov 14, 2012
U.S. Green Building Council announces grant from Google to catalyze transformation of building materials industry and indoor health
Focus is on healthy building materials to promote indoor environmental quality and human health
| Nov 14, 2012
USGBC's Greenbuild International Conference and Expo kicks off in San Francisco
7,000 members of the green building industry convene for opening plenary headlined by "Morning Joe" co-hosts Mika Brzezinksi and Joe Scarborough
| Nov 13, 2012
Have colleges + universities gone too far with "Quality of Life" buildings?
We'd like your input - recent projects, photo/s, renderings, and expert insight - on an important article we're working on for our Jan 2013 issue
| Nov 13, 2012
Turner Construction’s green building Market Barometer reveals new findings on green building and certification
Respondents indicated a widespread commitment to sustainable practices
| Nov 13, 2012
Soladigm announces new glass product, changes company name to View, Inc.
Glass is installed and operating at W San Francisco adjacent to the 2012 Greenbuild show
| Nov 13, 2012
Sto Corp. announces appointment of new CMO
Bottema will be responsible for all corporate marketing, product management and sales activities.
| Nov 13, 2012
2012 LEED for Homes Award recipients announced
USGBC recognizes excellence in the green residential building community at its Greenbuild Conference & Expo in San Francisco
| Nov 12, 2012
PCI Skanska celebrates 40-year anniversary
Since its creation, PCI Skanska has provided EPC services to clients for more than 40 years.
