flexiblefullpage
billboard
interstitial1
catfish1
Currently Reading

The average U.S. contractor has nine months worth of construction work in the pipeline

Contractors

The average U.S. contractor has nine months worth of construction work in the pipeline

The Associated Builders and Contractors's Construction Backlog Indicator was 9.0 months in January 2023, down 0.2 months from the previous month. 


By Associated Builders and Contractors | February 14, 2023
The average U.S. contractor has nine months worth of construction work in the pipeline Image by Andrei Bălănescu from Pixabay
Image by Andrei Bălănescu from Pixabay

Associated Builders and Contractors reports today that its Construction Backlog Indicator declined 0.2 months to 9.0 in January, according to an ABC member survey conducted Jan. 20 to Feb. 3. The reading is 1.0 month higher than in January 2022.

View ABC’s Construction Backlog Indicator and Construction Confidence Index tables for January. View the historical Construction Backlog Indicator and Construction Confidence Index data series.

Despite the decline in January, backlog remains elevated by historical standards and is 0.1 months higher than in February 2020, the month before the COVID-19 pandemic began to impact the economy.

ABC’s Construction Confidence Index reading for sales, profit margins and staffing levels increased in January. All three readings remain above the threshold of 50, indicating expectations of growth over the next six months.

The average U.S. contractor has nine months worth of construction work in the pipeline

The average U.S. contractor has nine months worth of construction work in the pipeline

“Despite extremely elevated borrowing costs, worker shortages and a generally downcast economic outlook, contractor confidence rebounded in January to a level not seen since the first half of 2022,” said ABC Chief Economist Anirban Basu. “Given the recent employment report, the U.S. economy continues to fend off recession. Some economists have concluded that rather than a hard or soft landing, the U.S. economy is headed for ‘no landing,’ meaning that economic growth will continue despite rising interest rates.

“However, the incredibly strong January jobs report makes it more likely that the Federal Reserve will maintain higher borrowing costs for a longer period,” said Basu. “Eventually, that could cause the economic expansion to unravel, perhaps later this year. That could set the stage for diminished backlog and less confidence for contractors that specialize in privately financed projects as 2024 approaches.”

Related Stories

| Sep 10, 2013

BUILDINGChicago eShow Daily – Day 2 coverage

The BD+C editorial team brings you this real-time coverage of day 2 of the BUILDINGChicago/Greening the Heartland conference and expo taking place this week at the Holiday Inn Chicago Mart Plaza.

| Sep 9, 2013

Top 25 continuing education courses on BDCuniversity

An overview of the 25 most popular continuing education courses on BDCuniversity.com. 

| Sep 6, 2013

Public Architecture's Day Labor Station: Just the type of 'great idea' we're looking for in the $5,000 Vision U40 competition

Thinking about competing in BD+C's Vision U40 program at next month's U40 Leadership Summit? Here's a good example of the kind of "great idea" we're looking for. 

| Sep 6, 2013

U40 Summit featured speaker: Arthur Gensler on how to build a world-class AEC practice

Gensler, founder of the world’s largest architecture firm, will talk about the role of the architect in society, the impact of great design, and the practicalities of starting and running a practice, and will offer advice for today’s young design and construction professionals.

| Sep 6, 2013

CertainTeed announces roofing contractor program partnership with Angie’s List

By teaming with Angie’s List, CertainTeed is helping local contractors build awareness for their services by providing access to exclusive advertising discounts, local business growth marketing opportunities and support.

| Sep 4, 2013

Augmented reality: 12 applications for design and construction professionals

Building Design+Construction reached out to AEC professionals who have studied and applied augmented reality and asked them to pinpoint applications that are ripe for the technology. Here’s what they had to offer.

| Sep 4, 2013

Augmented reality goes mainstream: 12 applications for design and construction firms

Thanks to inexpensive mobile devices and increasingly advanced software apps, Building Teams are finally able to bring their BIM models to life on the job site. 

| Sep 4, 2013

K-12 school design that pays off for students

More and more educators are being influenced by the Reggio Emilia approach to pedagogy, with its mantra of “environment as the third teacher”—an approach that gives Building Teams a responsibility to pay even closer attention to the special needs of today’s schools.

| Sep 4, 2013

Smart building technology: Talking results at the BUILDINGChicago/ Greening the Heartland show

Recent advancements in technology are allowing owners to connect with facilities as never before, leveraging existing automation systems to achieve cost-effective energy improvements. This BUILDINGChicago presentation will feature Procter & Gamble’s smart building management program. 

| Sep 4, 2013

Last chance to pre-register for BUILDINGChicago/Greening the Heartland Conference at 20% savings

Attendees of the BUILDINGChicago/Greening the Heartland Expo and Conference can still save 20% off the at-site registration fee by registering online in these final days before the event opens on September 9 and concludes on September 11.

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