Washington, D.C.-based Associated Builders and Contractors says its measure of the nation's construction industry backlog rose 10% in the second quarter to an average of 8.1 months, up from 7.3 months the previous quarter. ABC's Construction Backlog Indicator (CBI) is 12% higher than a year ago, and backlog has expanded in all regions, particularly in the South in which project orders rose 1.87 months during the quarter compared to a year ago, the trade group says. The Northeast, however, posted the smallest gain, 0.04 months, from the same period last year.
ABC expresses caution about the overall rise in activity, saying that it may indicate economic momentum that existed several months ago, which may begin to weaken.