Levelset presentation on understanding important Texas payment terms before signing your construction contract.
Associated Builders and Contractors reported that its Construction Backlog Indicator rose to 7.9 months in May, an increase of less than 0.1 months from April’s reading. Furthermore, based on an ABC member survey conducted from May 20-June 3, results indicate that confidence among U.S. construction industry leaders continued to rebound from the historically low levels observed in the March survey.
Nonresidential construction backlog is down 0.8 months compared to May 2019 and declined year-over-year in every industry, classification and region. Backlog in the heavy industrial category, however, increased by nearly one month in May after reaching its lowest level in the history of the series in April.
Reprinted courtesy of ABC, Construction Executive, a publication of Associated Builders and Contractors. All rights reserved.