Construction backlog jumps in Q3

Constructions backlog increased earlier this year.

More property management companies experienced an increased backlog in commercial construction throughout much of the country, according to a report from the Associated Builders and Contractors.

The Construction Backlog Indicator rose to eight months during the third quarter, which was 3.5 percent higher than the previous quarter's level. This explains the level of work left to be completed in the nonresidential market.

When examining regions, the West experienced the most significant expansion, while the Northeast and Middle sections of the country had significant improvements, as well, the report explained. All three regions saw jumps in overall backlog compared to the same quarter in 2011. The South's market experienced a decrease in backlog, and the latest decline was the fourth consecutive drop.

"The CBI indicates the West region is racing back," said Anirban Basu, chief economist for ABC. "Better economic performances in markets such as San Jose, Los Angeles, Seattle, Phoenix and Las Vegas have positioned the West to enjoy surprisingly strong backlog recovery during the past three quarters."

Basu added that the most successful markets experienced increases in consumer spending, improved housing conditions, as well as heightened technological demand.

Share
Disclaimer: All data and information provided on this site is for informational purposes only. Zoliath.com makes no representations as to accuracy, completeness, correctness, suitability, or validity of any information on this site and will not be liable for any errors, omissions, opinions or delays in this information or any losses, injuries, or damages arising from its display or use. All information is provided on an as-is basis.