Commercial, Industrial Construction Backlogs Rise In Q3
The backlog of nonresidential construction projects rebounded from a slow first half of the year in Q3, with infrastructure backlog rising for the first time this year—good news for the construction industry.
That’s according to the most recent Construction Backlog Indicator from Associated Builders and Contractors. Office, hotel and healthcare consumer-related projects were up last quarter, and ABC reported that President-elect Donald Trump's infrastructure plans are also expected to boost public utility and transportation projects come next year. On a year-to-year basis construction industry backlog rose 2.2%, ConstructionDive reports.
The biggest loser was heavy industrial, which saw its backlog shrink more than 11% to send the sector back to 2014 levels. But that could change if Trump's infrastructure plans get the green light, likely boosting backlogs across all sectors. [CD]