ABC Backlog Indicator Continues Slow Decline

“Construction backlog declined in all four major regions in July,” said ABC Chief Economist Anirban Basu. “While the Northeast and South — the regions with the lengthiest backlog — experienced minor dips, the West and the Middle States exhibited more significant declines. Despite the 9.3% monthly decline in the West region, backlog remains above levels observed in early 2019. For the Middle States, however, backlog is at its lowest level since the last quarter of 2015, largely due to a dip in activity in the commercial/institutional segment, the largest segment represented in ABC’s survey. Read more here.

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