Construction Backlog Indicator Declines 3.2% in Q1 2015
The Associated Builders and Contractors’ Construction Backlog Indicator (CBI) declined 3.2% during the first quarter of 2015. Construction firms report a revenue-weighted average CBI of 8.4 months, 0.3 months below the fourth quarter 2014 reading. Year over year, the CBI has increased 4% from a first quarter of 2014 backlog of 8.1 months.
“Weather and a myriad of other factors always make the first quarter CBI difficult to interpret,” said ABC Chief Economist Anirban Basu. “A brutal winter may have postponed project-related work, including the signing of contracts. The first quarters of 2012 and 2014 also experienced CBI declines that effectively were reversed during the ensuing second quarters.