The Associated Builders and Contractors released its latest Construction Backlog Indicator on Sept. 22, which shows an 8.9% increase in backlogs in July for its members who were surveyed. On average, the CBI shows backlogs increasing from 5.6 months to 6.1 months. “While the July increase was significant, June was the lowest point for the CBI since ABC started the indicator in November 2008,” says the association's chief economist, Anirban Basu. He says the downturn may be over for the nonresidential market.
Non-residential Building Market May Have Hit Bottom
September 23, 2009