Associated Builders and Contractors' Construction Backlog Indicator (CBI) for the first quarter of 2012 showed a 5.4% decline from the previous quarter, dipping from 7.8 months to 7.4 months.
It is slightly higher than it was in the first quarter of 2011, however.
“On the heels of a mixed bag of national economic news, CBI declined for the second
quarter in a row,” said ABC Chief Economist Anirban Basu. “The lull in nonresidential construction momentum is not poised to end in the immediate term. The nation’s nonresidential construction activity will remain soft during the summer months, with flat to declining nonresidential construction spending."
