Construction backlog surges, sets 3rd quarter record

AZBigMedia

Providing more evidence of a strengthening economy, Associated Builders and Contractors’ (ABC) Construction Backlog Indicator (CBI) set a record as it expanded to 9.45 months during the third quarter of 2017, up 9.8 percent from the second quarter to the longest backlog reading in the eight-year history of the series. CBI is up by 0.8 months, or 9.2 percent, on a year-over-year basis.

CBI is a leading economic indicator that reflects the amount of construction work under contract, but not yet completed. CBI is measured in months, with a lengthening backlog implying expanding demand for construction services.  

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