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
75 Top Building Products | Nov 30, 2022
75 top building products for 2022
Each year, the Building Design+Construction editorial team evaluates the vast universe of new and updated products, materials, and systems for the U.S. building design and construction market. The best-of-the-best products make up our annual 75 Top Products report.
K-12 Schools | Nov 30, 2022
School districts are prioritizing federal funds for air filtration, HVAC upgrades
U.S. school districts are widely planning to use funds from last year’s American Rescue Plan (ARP) to upgrade or improve air filtration and heating/cooling systems, according to a report from the Center for Green Schools at the U.S. Green Building Council. The report, “School Facilities Funding in the Pandemic,” says air filtration and HVAC upgrades are the top facility improvement choice for the 5,004 school districts included in the analysis.
Retail Centers | Nov 29, 2022
'Social' tenants play a vital role in the health of the retail center market
After a long Covid-induced period when the public avoided large gatherings, owners of malls and retail lifestyle centers are increasingly focused on attracting tenants that provide opportunities for socialization. Pent-up demand for experiences involving gatherings of people is fueling renovations and redesigns of large retail developments.
Giants 400 | Nov 28, 2022
Top 130 Office Sector Contractors and CM Firms for 2022
Turner Construction, STO Building Group, Gilbane, and CBRE top the ranking of the nation's largest office sector contractors and construction management (CM) firms for 2022, as reported in Building Design+Construction's 2022 Giants 400 Report.
Legislation | Nov 23, 2022
7 ways the Inflation Reduction Act will impact the building sector
HOK’s Anica Landreneau and Stephanie Miller and Smart Surfaces Coalition’s Greg Kats reveal multiple ways the IRA will benefit the built environment.
Multifamily Housing | Nov 22, 2022
10 compelling multifamily developments debut in 2022
A smart home tech-focused apartment complex in North Phoenix, Ariz., and a factory conversion to lofts in St. Louis highlight the notable multifamily developments to debut recently.
Industrial Facilities | Nov 16, 2022
Industrial building sector construction, while healthy, might also be flattening
For all the hoopla about the ecommerce boom and “last mile” order fulfillment driving demand for more warehouse and manufacturing space, construction of industrial buildings actually declined over the past five years, albeit marginally by 2.1% to $27.3 billion in 2022, according to estimates by IBIS World. Still, construction in this sector remains buzzy.
Wood | Nov 16, 2022
5 steps to using mass timber in multifamily housing
A design-assist approach can provide the most effective delivery method for multifamily housing projects using mass timber as the primary building element.
Giants 400 | Nov 14, 2022
Top 60 Airport Terminal Contractors + CM Firms for 2022
Hensel Phelps, Turner Construction, Walsh Group, and Holder Construction top the ranking of the nation's largest airport terminal contractors and construction management (CM) firms for 2022, as reported in Building Design+Construction's 2022 Giants 400 Report.
Giants 400 | Nov 14, 2022
4 emerging trends from BD+C's 2022 Giants 400 Report
Regenerative design, cognitive health, and jobsite robotics highlight the top trends from the 519 design and construction firms that participated in BD+C's 2022 Giants 400 Report.
