U.S. construction backlogs hit a post-recession high in the final quarter of 2013, a feat that eluded the majority of Midwest states, according to year-over-year data compiled by Washington, D.C.-based Associated Builders and Contractors (ABC).
ABC's Construction Backlog Indicator (CBI) rose to 8.3 months in the fourth quarter, up from 8.2 months in the third quarter (+1.3%) and from 8 months at year end 2012 (+3.9%). By comparison, Midwest backlogs declined from 6.61 months to 6.40 months (-0.21%) in year-over-year comparisons, reflecting poor fundamentals in major metro markets such as Chicago and Detroit.