Associated Builders and Contractors’ Construction Backlog Indicator remained at 8.4 months from October to November, but Construction Confidence Index readings for sales, profit margins and staffing levels increased. The readings for all three were above the threshold of 50, indicating expectations for growth over the next six months.
“This sudden improvement in confidence reflects increased policy certainty in the wake of November’s presidential election, and contractors are optimistic about the prospect of falling borrowing costs over the next several quarters,” ABC Chief Economist Anirban Basu said in a statement. “Though backlog contracted in the commercial and institutional and heavy industry categories last month, contractors expect increased activity in privately financed segments during the next six months.”
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