Associated Builders and Contractors (ABC) reports that its Construction Backlog Indicator increased to 9.2 months in November, according to an ABC member survey conducted Nov. 21 to Dec. 6.
The reading is 0.8 months higher than in November 2021.
The Backlog is now at its highest level since the second quarter of 2019. The increase in backlog observed in November is largely attributed to contractors with under $30 million in revenue, which now have their highest level of backlog in over three years.
ABC’s Construction Confidence Index reading for profit margins and staffing increased in November, while the reading for sales inched lower. All three readings remain above the threshold of 50, indicating expectations of growth over the next six months.
Source: ABC
