Author: Amanda Murray

By Associated Builders and Contractors Associated Builders and Contractors reported its Construction Backlog Indicator fell to 7.8 months in March, according to an ABCmember survey conducted from March 22nd to April 5th, a decrease of 0.4 months from both the February 2021 and March 2020 readings. ABC’s Construction Confidence Index readings for sales, profit margins and staffing levels increased in March. All three indices remain above the threshold of 50, indicating expectations of growth over the next six months. “There are two countervailing forces influencing backlog,” said ABC Chief Economist Anirban Basu. “On the one hand, design work on new…

Portland Cement Association Market Intelligence Group’s Senior VP and Chief Economist Ed Sullivan recently presented their annual spring cement consumption forecast, predicting an increase in cement consumption for 2021 and 2022. “Remarkably, U.S. cement consumption recorded two percent growth during 2020. It is remarkable because COVID-19 exerted a terrible toll on the economy. Consumers bunkered down; states enacted rigid lockdowns. Real GDP declined to a rate not matched since 1946 as the economy transitioned from war time to peace time,” said Sullivan. “Nearly 9.5 million fewer jobs now exist compared to pre-COVID-19 levels. Many businesses did not survive the threat. And…