Associated Builders and Contractors’s Construction Backlog Indicator sat around 8.4 months in June across all regions.
The backlog declined 0.5 months in total since June 2023, with the largest declines observed in the Middle States and Northeast regions. These regions saw a 1.5- and 0.7-month year-over-year backlog decline, respectively.
Meanwhile, ABC’s Construction Confidence Index readings for sales and staffing levels decreased in June, but all three readings were above the threshold of 50, indicating expectations for growth in the next six months.
“Backlog continues to hold up remarkably well despite high interest rates, inflation and emerging weakness in the broader economy," ABC Chief Economist Anirban Basu said in a statement. “While contractor confidence regarding the outlook for sales and staffing levels fell modestly in June, all three Construction Confidence Index components are higher than they were one year ago.”
