The Associated Builders and Contractors’ Construction Backlog Indicator (CBI) hit a post-recession high in the fourth quarter of 2013, growing from 8.2 months to 8.3 months (1.3%). Compared to a year ago, CBI is 3.9% higher—up from 8 months at the end of 2012.
The CBI is a leading indicator that reflects the amount of construction work under contract but not yet completed. A lengthening backlog implies expanding demand for construction services.