flexiblefullpage -
billboard - default
interstitial1 - interstitial
catfish1 - bottom
Currently Reading

The average U.S. contractor has 8.9 months worth of construction work in the pipeline, as of April 2023

Contractors

The average U.S. contractor has 8.9 months worth of construction work in the pipeline, as of April 2023

Contractor backlogs climbed slightly in April, from a seven-month low the previous month, according to Associated Builders and Contractors.


By Associated Builders and Contractors | May 24, 2023
The average U.S. contractor has 8.9 months worth of construction work in the pipeline, as of April 2023
Image by PIRO from Pixabay

Associated Builders and Contractors' Construction Backlog Indicator increased to 8.9 months in April from 8.7 in March, according to an ABC member survey conducted April 20 to May 3. The reading is 0.1 months higher than in April 2022.

After declining to a seven-month low in March, backlog rebounded in April due to strength in the infrastructure category. Regionally, backlog increased in the Northeast and West but fell in the South and middle states.

ABC’s Construction Confidence Index reading for sales and staffing moved higher in April, while the readings for profit margins inched lower. All three readings remain above the threshold of 50, indicating expectations of growth over the next six months.

CBI_Table_Apr.23

The average U.S. contractor has 8.9 months worth of construction work in the pipeline, as of April 2023

“Based on ABC member sentiment, one would not be able to discern that interest rates are high, the nation’s banking sector is in tumult, politicians are arguing over the nation’s debt limit and recession fears remain pervasive,” said ABC Chief Economist Anirban Basu. “Despite many headwinds and an active news cycle, contractors continue to express confidence in the near term.

“Still, there is some evidence of a shift,” said Basu. “With credit conditions tightening, expectations are that private construction is poised for weaker times ahead. Nonetheless, backlog expanded in April, as infrastructure contractors began to take on more public works projects. Moreover, despite rapidly rising compensation costs, more ABC contractors expect profit margins to expand as opposed to recede over the next six months, evidence of sufficiently strong demand for construction services to support pricing power.”


 

Related Stories

K-12 Schools | Apr 30, 2024

Fully electric Oregon elementary school aims for resilience with microgrid design

The River Grove Elementary School in Oregon was designed for net-zero carbon and resiliency to seismic events, storms, and wildfire. The roughly 82,000-sf school in a Portland suburb will feature a microgrid—a small-scale power grid that operates independently from the area’s electric grid. 

AEC Tech | Apr 30, 2024

Lack of organizational readiness is biggest hurdle to artificial intelligence adoption

Managers of companies in the industrial sector, including construction, have bought the hype of artificial intelligence (AI) as a transformative technology, but their organizations are not ready to realize its promise, according to research from IFS, a global cloud enterprise software company. An IFS survey of 1,700 senior decision-makers found that 84% of executives anticipate massive organizational benefits from AI. 

Codes and Standards | Apr 30, 2024

Updated document details methods of testing fenestration for exterior walls

The Fenestration and Glazing Industry Alliance (FGIA) updated a document serving a recommended practice for determining test methodology for laboratory and field testing of exterior wall systems. The document pertains to products covered by an AAMA standard such as curtain walls, storefronts, window walls, and sloped glazing. AAMA 501-24, Methods of Test for Exterior Walls was last updated in 2015. 

MFPRO+ News | Apr 29, 2024

World’s largest 3D printer could create entire neighborhoods

The University of Maine recently unveiled the world’s largest 3D printer said to be able to create entire neighborhoods. The machine is four times larger than a preceding model that was first tested in 2019. The older model was used to create a 600 sf single-family home made of recyclable wood fiber and bio-resin materials.

AEC Innovators | Apr 26, 2024

National Institute of Building Sciences announces Building Innovation 2024 schedule

The National Institute of Building Sciences is hosting its annual Building Innovation conference, May 22-24 at the Capital Hilton in Washington, D.C. BI2024 brings together everyone who impacts the built environment: government agencies, contractors, the private sector, architects, scientists, and more. 

Contractors | Apr 26, 2024

AGC releases decarbonization playbook to help assess, track, reduce GHG emissions

The Associated General Contractors of America released a new, first-of-its-kind, decarbonization playbook designed to help firms assess, track, and reduce greenhouse gas emissions on projects. The AGC Playbook on Decarbonization and Carbon Reporting in the Construction Industry is part of the association’s efforts to make sure construction firms play a leading role in crafting carbon-reduction measures for the industry.

Mass Timber | Apr 25, 2024

Bjarke Ingels Group designs a mass timber cube structure for the University of Kansas

Bjarke Ingels Group (BIG) and executive architect BNIM have unveiled their design for a new mass timber cube structure called the Makers’ KUbe for the University of Kansas School of Architecture & Design. A six-story, 50,000-sf building for learning and collaboration, the light-filled KUbe will house studio and teaching space, 3D-printing and robotic labs, and a ground-level cafe, all organized around a central core.

Senior Living Design | Apr 24, 2024

Nation's largest Passive House senior living facility completed in Portland, Ore.

Construction of Parkview, a high-rise expansion of a Continuing Care Retirement Community (CCRC) in Portland, Ore., completed recently. The senior living facility is touted as the largest Passive House structure on the West Coast, and the largest Passive House senior living building in the country.

Hotel Facilities | Apr 24, 2024

The U.S. hotel construction market sees record highs in the first quarter of 2024

As seen in the Q1 2024 U.S. Hotel Construction Pipeline Trend Report from Lodging Econometrics (LE), at the end of the first quarter, there are 6,065 projects with 702,990 rooms in the pipeline. This new all-time high represents a 9% year-over-year (YOY) increase in projects and a 7% YOY increase in rooms compared to last year.

ProConnect Events | Apr 23, 2024

5 more ProConnect events scheduled for 2024, including all-new 'AEC Giants'

SGC Horizon present 7 ProConnect events in 2024.

boombox1 - default
boombox2 -
native1 -

More In Category




MFPRO+ News

Florida condo market roiled by structural safety standards law

A Florida law enacted after the Surfside condo tower collapse is causing turmoil in the condominium market. The law, which requires buildings to meet certain structural safety standards, is forcing condo associations to assess hefty fees to make repairs on older properties. In some cases, the cost per unit runs into six figures.

halfpage1 -

Most Popular Content

  1. 2021 Giants 400 Report
  2. Top 150 Architecture Firms for 2019
  3. 13 projects that represent the future of affordable housing
  4. Sagrada Familia completion date pushed back due to coronavirus
  5. Top 160 Architecture Firms 2021