Dive summary:
- Associated Builders and Contractors reports that nonresidential construction backlogs rose during the third quarter to eight months nationally, up 3.5% from the second quarter.
- The only region that appears to be missing out on the recovery is the South, where the backlog of committed business has shrunken now for four quarters. It dropped almost a month from Q2 to Q3, yet it remains the second highest in the nation at 8.45 months.
- In the Midwest, the backlog was up almost a half-month to 6.97 months of work. In the Northeast, the change was 0.1 months to 7.62 months.
From the article:
ABC reports that its Construction Backlog Indicator (CBI) expanded for the second consecutive quarter, up to 8 months in the third quarter of this year, a 3.5 percent increase from the previous quarter. ...