Uncertainty pervades the economy these days and the construction industry reflects that with unemployment lower, varying strength among sectors and constant concern about the rate of interest rate increases and the soundness of the banking system.
Associated Builders and Contractors reported that its Construction Backlog Indicator increased to 8.9 months in April from 8.7 in March. March saw a seven-month low. The April reading reading is 0.1 months higher than in April 2022. Nonetheless, backlog expanded in April, as infrastructure contractors began to take on more public works projects.