Florida Construction Backlog Indicator Increases 9.5 Percent
The Florida construction backlog indicator (CBI) has increased 9.5 percent in September to 6.3 months meaning the Sunshine State’s average construction backlog now favorably compares to the national CBI of 5.9 months.
The CBI is a forward looking measurement of the amount of construction work currently contracted to be completed in the future. Associated Builders and Contractors (ABC) reported today that Florida’s Construction Backlog Indicator was 6.3 months in September, up from 5.8 months in August, demonstrating a positive improvement in Florida’s CBI.
ABC’s Chief Economist attributes the percentage increase to the federal stimulus package, and he adds, “The Peak of infrastructure-related stimulus spending is anticipated during the next four to 10 months, and it is reasonable to expect that backlog will be rising in advance of this spending.”
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