ABC’s Construction Backlog Rises in June Along With Contractor Optimism
Associated Builders and Contractors (ABC) reports that its Construction Backlog Indicator rose to 8.5 months in June, according to an ABC member survey conducted June 20 to July 6, 0.5 months higher than in May 2021 and 0.4 months higher than in June 2020.
“Nonresidential contractors continue to predict a strong rebound in activity over the balance of the year,” said ABC Chief Economist Anirban Basu. “Despite recent weakness in industry employment and spending data, contractors collectively remain upbeat. The neck-snapping pace of economic recovery, along with low financing costs and the return of projects that had been placed on the back burner during the pandemic, is translating into rising backlog and optimistic perspectives on employment, sales and profit margins.