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Contractors confident in the face of falling backlog

February 15, 2023

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Contractor confidence rebounded in January to a level not seen since the first half of 2022 despite elevated borrowing costs, worker shortages and a weak economic outlook, said Basu.

ABC’s construction confidence index for sales, profit margins and staffing levels all increased in January. The three readings indicate expectations of growth over the next six months, according to the report.

The highest nominal reading of the three was in the staffing category, indicating strong confidence among contractors that they will increase their payroll ranks in the next six months. The construction industry added 25,000 jobs in January, according to an ABC report. Still, the industry will need to hire an estimated 546,000 workers in 2023 in order to meet demand.

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