Associated Builders and Contractors’ Construction Backlog Indicator decreased to 8.3 months in December— 0.3 months lower than December 2023.
ABC’s Construction Confidence Index readings for sales, profit margins and staffing levels increased in December. The readings for all three are above the threshold of 50, indicating expectations for growth over the next six months.
Associated Builders and Contractors’ Construction Backlog Indicator decreased to 8.3 months in December— 0.3 months lower than December 2023.
ABC’s Construction Confidence Index readings for sales, profit margins and staffing levels increased in December. The readings for all three are above the threshold of 50, indicating expectations for growth over the next six months.
“While backlog inched lower in December, contractors broadly expect construction activity to pick up in the first half of this year," ABC Chief Economist Anirban Basu said in a statement. “Contractor confidence remained extraordinarily elevated in December, with the share of contractors that expect their sales to increase over the next six months now at the highest level since early 2022.”
Read ABC’s full report here.