ABC recently shared data on its Construction Backlog Indicator and Construction Confidence Index and it's not great. Quantitative data indicates that construction backlog is down. Backlog is down .3 months from June 2020 and down 1 full month from the July 2019 numbers. Not great and not trending in the right direction.
Qualitative numbers based on contractor surveys aren't positive either. In regards to sales, profit margins and staffing levels, all three are down from month to month (June to July 2020) and year to year (July 2019 to July 2020). Whether it's the overall uncertainty that COVID is creating or the quantitatively derived backlog numbers, contractors are pessimistic on our future.
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