Contractor Confidence Falls in July According to ABC
Associated Builders and Contractors reports that its Construction Backlog Indicator remained unchanged at 8.5 months in July, according to an ABC member survey conducted July 20-Aug. 2, up 0.7 months from July 2020.
“The latest contractor survey results appear to reflect a dose of reality,” said ABC Chief Economist Anirban Basu. “For several months, contractors have been signaling all systems go despite rising materials prices, expanding labor shortages and costs and the lingering pandemic. While contractors continue to believe that the next six months will see rising sales, staffing and margins, the level of confidence has become slightly less sanguine as backlog failed to expand in July.