Dive Brief:
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Nonresidential construction firms reported their highest backlog ever in the third quarter, according to Associated Builders and Contractors.
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Backlogs expanded in every region across the country and in every segment of the nonresidential construction industry, the association’s Construction Backlog Indicator showed.
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The historically high third-quarter backlog—8.8 months’ worth of work—is 6.9% higher than the backlog reported in September 2014.
Dive Insight:
Although backlog reports early in 2014 were less optimistic, high numbers over the last two quarters “tell a positive story that the average nonresidential contractor in America is positioned to get busier,” the association’s chief economist, Anirban Basu, said in a press release. “2015 will be a strong year of recovery.”