Associated Builders and Contractors reported today that its Construction Backlog Indicator fell to 8.2 months in August, according to an ABC member survey conducted Aug. 20 to Sept. 5. The reading is down 1.0 months from August 2023.
View ABC’s Construction Backlog Indicator and Construction Confidence Index tables for August. View the full Construction Backlog Indicator and Construction Confidence Index data series.
Only the infrastructure category experienced a monthly increase in backlog among the three major segments, reflecting strength in public construction spending. Nonetheless, over the past year, backlog has declined in all three segments.
ABC’s Construction Confidence Index readings for sales, profit margins and staffing levels fell in August. The readings for sales and staffing levels remain above the threshold of 50, indicating expectations for growth over the next six months, while the reading for profit margin expectations fell below that threshold.
“As predicted, confidence among contractors is slipping,” said ABC Chief Economist Anirban Basu. “While ABC contractor members are still anticipating expanding sales and employment, profits margins are increasingly under pressure as project owners face high borrowing and construction delivery costs in the context of a slowing economy. Many projects have been postponed, resulting in recent backlog declines, most notably in the South.”
Related Stories
Laboratories | Oct 2, 2024
Trends in scientific research environments: Q&A with Flad's Matt McCord
As part of an ongoing series, Matt McCord, AIA, NCARB, LEED AP BD+C, Associate Principal with Flad Architects, discusses the future of the scientific workplace.
Contractors | Oct 1, 2024
Conflict resolution is a critical skill for contractors
Contractors interact with other companies seventeen times a day on average, and nearly half of those interactions (eight) involve conflicts, according to a report by Dodge Construction Network and Dusty Robotics. The study suggests that specialty trade contractors, in particular, rarely experience good resolution from conflicts.
Museums | Oct 1, 2024
UT Dallas opens Morphosis-designed Crow Museum of Asian Art
In Richardson, Tex., the University of Texas at Dallas has opened a second location for the Crow Museum of Asian Art—the first of multiple buildings that will be part of a 12-acre cultural district. When completed, the arts and performance complex, called the Edith and Peter O’Donnell Jr. Athenaeum, will include two museums, a performance hall and music building, a grand plaza, and a dedicated parking structure on the Richardson campus.
Data Centers | Oct 1, 2024
10 biggest impacts to the data center market in 2024–2025
While AI sends the data center market into the stratosphere, the sector’s accelerated growth remains impacted by speed-to-market demands, supply chain issues, and design innovation necessities.
Contractors | Oct 1, 2024
Demographic, societal trends bode poorly for future construction workforce
U.S. employers will soon face “the largest labor shortage the country has ever seen,” according to a report from Lightcast, a labor market data and analysis firm. The problem will be especially acute in fields like plumbing, HVAC, and auto maintenance.
Contractors | Oct 1, 2024
Nonresidential construction spending rises slightly in August 2024
National nonresidential construction spending increased 0.1% in August, according to an Associated Builders and Contractors analysis of data published today by the U.S. Census Bureau. On a seasonally adjusted annualized basis, nonresidential spending totaled $1.22 trillion.
Higher Education | Sep 30, 2024
Studio Gang turns tobacco warehouse into the new home of the University of Kentucky’s College of Design
Studio Gang has completed the Gray Design Building, the new home of the University of Kentucky’s College of Design. In partnership with K. Norman Berry Associates Architects, Studio Gang has turned a former tobacco warehouse into a contemporary facility for interdisciplinary learning and collaboration.
Mass Timber | Sep 26, 2024
5 lessons in water mitigation for mass timber projects
Sustainability leaders from Skanska, RDH, and Polygon share five tips for successful water mitigation in mass timber construction.
Laboratories | Sep 26, 2024
BSL conversions: A cost-efficient method to support high-containment research
Some institutions are creating flexible lab spaces that can operate at a BSL-2 and modulate up to a BSL-3 when the need arises. Here are key aspects to consider when accommodating a rapid modulation between BSL-2 and BSL-3 space.
AEC Tech | Sep 25, 2024
Construction industry report shows increased use of robotics on jobsites
Nearly two-thirds of contractors surveyed, who cited use of robotics on jobsites, are either using monitoring and/or service/labor robotics.
