Associated Builders and Contractors reported today that its Construction Backlog Indicator fell to 8.5 months in July 2019, down 0.3 months or 2.9% from June 2019, when CBI stood at 8.8 months.
“Construction backlog declined in all four major regions in July,” said ABC Chief Economist Anirban Basu. “While the Northeast and South—the regions with the lengthiest backlog—experienced minor dips, the West and the Middle States exhibited more significant declines. Despite the 9.3% monthly decline in the West region, backlog remains above levels observed in early 2019.
