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.
View ABC’s Construction Backlog Indicator and Construction Confidence Index tables for June. View the full Construction Backlog Indicator and Construction Confidence Index data series.
The entire decline in backlog observed over the past calendar year is attributable to the Middle States and Northeast. Backlog in the South and West regions was unchanged between June 2023 and June 2024.
ABC’s Construction Confidence Index readings for sales and staffing levels fell slightly in June, while the reading for profit margins improved. All three readings remain above the threshold of 50, indicating expectations for growth over the next six months.
“Backlog continues to hold up remarkably well despite high interest rates, inflation and emerging weakness in the broader economy," said ABC Chief Economist Anirban Basu. “While contractor confidence regarding the outlook for sales and staffing levels fell modestly in June, all three Construction Confidence Index components are higher than they were one year ago.
“The combination of slowing inflation and softening growth suggests that the Federal Reserve may begin to lower interest rates as soon as September,” said Basu. “That will buoy backlog as some of the softer construction segments, like office and commercial, benefit from lower borrowing costs and looser lending standards.”
Related Stories
| 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.
| Aug 11, 2010
Installation work begins on Minnesota's largest green roof
Installation of the 2.5 acre green roof vegetation on the City-owned Target Center begins today. Over the course of two days a 165 ton crane will hoist five truckloads of plant material, which includes 900 rolls of pre-grown vegetated mats of sedum and native plants for installation on top of the arena's main roof.
| Aug 11, 2010
Jacobs, Holder Construction top BD+C's ranking of the nation's 50 largest industrial building contractors
A ranking of the Top 50 Industrial 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
AASHE releases annual review of sustainability in higher education
The Association for the Advancement of Sustainability in Higher Education (AASHE) has announced the release of AASHE Digest 2008, which documents the continued rapid growth of campus sustainability in the U.S. and Canada. The 356-page report, available as a free download on the AASHE website, includes over 1,350 stories that appeared in the weekly AASHE Bulletin last year.
