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Associated Builders and Contractors (ABC) reported its Construction Backlog Indicator contracted to 8.1 months during January 2019, down 0.8 months or 9.3% compared to the fourth quarter 2018 reading of 8.9 months.
Associated Builders and Contractors
“January’s decline in nonresidential backlog was significant, slipping to levels last observed in 2014,” said Basu. “From an industry segment perspective, the decline in backlog was especially sharp in the infrastructure category, which may have been related to the federal shutdown in January.
“There was one meaningful exception in the Middle States, where backlog continues to rise,” said Basu. “This is potentially a result of stronger industrial production growth in 2017 and 2018, which has produced greater demand for modern industrial space. As with any January data release, weather may also have played a role in shaping the results. Accordingly, more clarity regarding contractual activity will arrive during the months ahead.”