flexiblefullpage
billboard
interstitial1
catfish1
Currently Reading

Weather to blame for decline in Construction Backlog Indicator

Contractors

Weather to blame for decline in Construction Backlog Indicator

Despite the backlog decline, continued job growth, low fuel prices, and wage gains are expected to lead to an increase in consumer spending.


By BD+C Staff | June 2, 2015
Weather to blame for decline in Construction Backlog Indicator

The Construction Backlog Indicator fell by 3.2% during the first three months of 2015. Image: Pixabay

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

Sustainability | Jul 18, 2024

Grimshaw launches free online tool to help accelerate decarbonization of buildings

Minoro, an online platform to help accelerate the decarbonization of buildings, was recently launched by architecture firm Grimshaw, in collaboration with more than 20 supporting organizations including World Business Council for Sustainable Development (WBCSD), RIBA, Architecture 2030, the World Green Building Council (WorldGBC) and several national Green Building Councils from across the globe.

University Buildings | Jul 17, 2024

University of Louisville Student Success Building will be new heart of engineering program

A new Student Success Building will serve as the heart of the newly designed University of Louisville’s J.B. Speed School of Engineering. The 115,000-sf structure will greatly increase lab space and consolidate student services to one location.

Healthcare Facilities | Jul 16, 2024

Watch on-demand: Key Trends in the Healthcare Facilities Market for 2024-2025

Join the Building Design+Construction editorial team for this on-demand webinar on key trends, innovations, and opportunities in the $65 billion U.S. healthcare buildings market. A panel of healthcare design and construction experts present their latest projects, trends, innovations, opportunities, and data/research on key healthcare facilities sub-sectors. A 2024-2025 U.S. healthcare facilities market outlook is also presented.

K-12 Schools | Jul 15, 2024

A Cleveland suburb opens a $31.7 million new middle school and renovated high school

Accommodating 1,283 students in grades 6-12, the Warrensville, Ohio school complex features flexible learning environments and offers programs ranging from culinary arts and firefighting training to e-sports.

MFPRO+ News | Jul 15, 2024

More permits for ADUs than single-family homes issued in San Diego

Popularity of granny flats growing in California

Codes and Standards | Jul 15, 2024

New York City code update changes definition of a major building

Changes affecting how construction projects in New York City are permitted will have significant impacts for contractors. On Dec. 11, the definition of a major building in the city’s code will change from 10 stories to seven, or 75 feet. The change will affect thousands more projects.

Adaptive Reuse | Jul 12, 2024

Detroit’s Michigan Central Station, centerpiece of innovation hub, opens

The recently opened Michigan Central Station in Detroit is the centerpiece of a 30-acre technology and cultural hub that will include development of urban transportation solutions. The six-year adaptive reuse project of the 640,000 sf historic station, created by the same architect as New York’s Grand Central Station, is the latest sign of a reinvigorating Detroit.

Healthcare Facilities | Jul 11, 2024

New download: BD+C's 2024 Healthcare Annual Report

Welcome to Building Design+Construction’s 2024 Healthcare Annual Report. This free 66-page special report is our first-ever “state of the state” update on the $65 billion healthcare construction sector.

Transit Facilities | Jul 10, 2024

Historic Fresno train depot to be renovated for California high speed rail station project

A long-shuttered rail station in Fresno, Calif., will be renovated to serve as the city’s high speed rail (HSR) station as part of the California High-Speed Rail Authority system, the nation’s first high speed rail project. California’s HSR system will eventually link more than 800 miles of rail, served by up to 24 stations.

Contractors | Jul 9, 2024

The average U.S. contractor has 8.4 months worth of construction work in the pipeline, as of June 2024

Associated Builders and Contractors reported today that its Construction Backlog Indicator increased to 8.4 months in June, according to an ABC member survey conducted June 20 to July 3. The reading is down 0.5 months from June 2023.

boombox1
boombox2
native1

More In Category




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