Associated Builders and Contractors’ Construction Backlog Indicator fell to 8.4 months in October, according to an ABC member survey conducted Oct. 21-Nov. 4. The reading is unchanged from October 2023.
Backlog fell in every region except for the Northeast in October, reversing the previous month’s trend in which every region except for the Northeast saw an increase in backlog. Only the Middle States have longer backlog than one year ago.
ABC’s Construction Confidence Index readings for sales and staffing levels improved in October, while the reading for profit margins inched slightly lower. The readings for all three components are above the threshold of 50, indicating expectations for growth over the next six months.
Visit abc.org/economics for the Construction Backlog Indicator and Construction Confidence Index, plus analysis of spending, employment, job openings and the Producer Price Index.
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