According to ConstructionBusinessOwner.com, Associated Builders and Contractors reported that its Construction Backlog Indicator rebounded to 7.7 months in October, an increase of 0.2 months from September’s reading, according to an ABC member survey conducted from October 20 to November 5. Backlog is 1.2 months lower than in October 2019.
ABC’s Construction Confidence Index readings for sales, profit margins and staffing levels increased in October. Sales and staffing index readings remained above the threshold of 50, indicating expectations of expansion over the next 6 months. For profit margins, this is the eighth consecutive month of decreasing readings.