Construction indicator improves in first quarter
Associated Builders and Contractors reported today that its Construction Backlog Indicator (CBI) for the first quarter of 2011 averaged 7.3 months, up from 6.1 months a year earlier, an increase of 21 percent. CBI measures the amount of construction work under contract to be completed in the future.
The organization said the Middle States region continues to experience the smallest backlog on average, largely because the region experienced the sharpest reduction in backlog during the recession. The Middle States backlog increased to 6.21 months from 5.23.
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