National Construction Backlog Remains Unchanged in Q3
As the economy gradually recovers, nonresidential construction spending remains unchanged—possibly one good sign that the downturn in the industry has stopped. That may be one way to interpret the latest Construction Backlog Indicator (CBI) produced by Associated Builders and Contractors, which remained nearly unchanged between the second and third quarters of 2013.
“The most recent CBI reading suggests much of the growth next year is likely to occur after the first quarter of 2014, and only if a successful resolution to lingering federal budgetary issues emboldens decision-makers,” said ABC Chief Economist Anirban Basu.