Associated Builders and Contractors’ Construction Backlog Indicator declined to 8.2 months in August, which is 1.0 months lower than August 2023.
Meanwhile, ABC’s Construction Confidence Index readings for sales, profit margins and staffing levels fell in August, but all three readings were above the threshold of 50, indicating expectations for growth over the next six months.
“As predicted, confidence among contractors is slipping,” ABC Chief Economist Anirban Basu said in a statement. “While ABC contractor members are still anticipating expanding sales and employment, profits margins are increasingly under pressure as project owners face high borrowing and construction delivery costs in the context of a slowing economy.”
Read ABC’s full report here.
