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
| Aug 11, 2010
Construction employment shrinks in 319 of the nation's 336 largest metro areas in July, continuing months-long slide
Construction workers in communities across the country continued to suffer extreme job losses this July according to a new analysis of metropolitan area employment data from the Bureau of Labor Statistics released today by the Associated General Contractors of America. That analysis found construction employment declined in 319 of the nation’s largest communities while only 11 areas saw increases and six saw no change in construction employment between July 2008 and July 2009.
| Aug 11, 2010
Green consultant guarantees LEED certification or your money back
With cities mandating LEED (Leadership in Energy and Environmental Design) certification for public, and even private, buildings in growing numbers, an Atlanta-based sustainability consulting firm is hoping to ease anxieties over meeting those goals with the industry’s first Green Guaranteed.
| Aug 11, 2010
Skanska, Turner most active in U.S. hotel construction, according to BD+C's Giants 300 report
A ranking of the Top 50 Hotel Contractors based on Building Design+Construction's 2009 Giants 300 survey. For more Giants 300 rankings, visit http://www.BDCnetwork.com/Giants
| Aug 11, 2010
Gilbane, Whiting-Turner among nation's largest university contractors, according to BD+C's Giants 300 report
A ranking of the Top 50 University Contractors based on Building Design+Construction's 2009 Giants 300 survey. For more Giants 300 rankings, visit /giants
| Aug 11, 2010
Suffolk breaks ground on colorful charter school in Boston
Suffolk Education has broken ground and began renovations and construction of a new $39.6 million facility to house the Boston Renaissance Charter Public School. The Suffolk team is renovating an existing, three-story mill building and warehouse in the Hyde Park section of Boston, Massachusetts, and constructing a 20,000 square-foot addition.
| Aug 11, 2010
McCarthy, Skanska among nation's largest healthcare contractors, according to BD+C's Giants 300 report
A ranking of the Top 50 Healthcare Contractors based on Building Design+Construction's 2009 Giants 300 survey. For more Giants 300 rankings, visit http://www.BDCnetwork.com/Giants
| Aug 11, 2010
Turner, Webcor, Hensel Phelps top BD+C's list of the 75 largest green contractors
With more than $3 billion in value of construction put in place for green buildings in 2008, Turner Construction tops BD+C’s ranking of the nation’s 75 largest green contractors, published as part of the Giants 300 report. Webcor Builders ($2.27 billion), Hensel Phelps Construction ($2.10 billion), The Whiting-Turner Contracting Co. ($1.97 billion), and Clark Group ($1.89 billion) round out the top five.
