Dive summary:
- The Construction Backlog Indicator for the U.S. as a whole was down just slightly from the final quarter of 2012 to the first three months of this year – 8 months to 7.9 month – but that masks wide difference in regional conditions.
- Increases in the Northeast to 8.86 months, the West to 7.11 months and the South to 9.27 months almost offset the Middle States dropping to 5.51 months.
- Associated Builders and Contractors' chief economist, Anirban Basu, said tight credit for contractors and post-recession hesitancy among developers helped hold down the national number, but he added that project planning is on the rise and ought to help raise the contract backlog in coming quarters.
From the article:
"Certain nonresidential construction segments, such as energy generation, infrastructure, retail and lodging, appear to be doing well,” remarked Basu. ...