The Associated Builders and Contractors' (ABC) Construction Backlog Indicator revealed that the national average construction backlog for 1Q 2016 was 8.63 months, a 2.62 year-over-year increase. While this represents a year-over-year increase, it was a still a 0.8 drop compared to the fourth quarter of 2016.
The Indictor shows that the market is stabilizing and the biggest firms are finding it easier to quickly recruit talents:
“Contractors are no longer becoming busier, rather, the level of activity has stabilized at a reasonably high level,” ABC Chief Economist Anirban Basu said in a statement. “Most contractors continue to express satisfaction regarding the amount of work they have under contract. This is of course truer in certain parts of the nation than others.”