From the Associated Builders & Contractors, which reports on its “backlog indicator.” This report — on Q1/14 — is dated 6/3/14:
Harsh winter weather helped produce a 2.8 percent decline in Associated Builders and Contractors’ (ABC) Construction Backlog Indicator (CBI) during 2014’s first quarter. The weather also impacted construction starts, architectural billings and many other construction-related metrics.
Overall CBI now stands at 8.1 months—down from the 8.3 months in the previous quarter, but up from 7.9 months a year ago.
“Despite a decline in overall backlog, only one of three industry segments, commercial/institutional, saw a decrease in backlog during the first quarter,” said ABC Chief Economist Anirban Basu.
“Retailers and other commercial actors have been seeking to build cash reserves rather than to expand operational capacity, which helps explain the decline.
“However, second quarter business spending appears to be on the rise. Many companies are flush with cash and small business confidence is improving, which means commercial backlog is expected to expand during 2014’s second quarter and likely beyond.
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