{"id":40924,"date":"2023-04-19T05:12:52","date_gmt":"2023-04-19T05:12:52","guid":{"rendered":"https:\/\/www.my-equipment.com\/blog\/?p=40924"},"modified":"2023-04-20T06:04:26","modified_gmt":"2023-04-20T06:04:26","slug":"american-contractors-may-struggle-to-secure-work-this-summer","status":"publish","type":"post","link":"https:\/\/www.my-equipment.com\/blog\/2023\/04\/american-contractors-may-struggle-to-secure-work-this-summer\/","title":{"rendered":"American Contractors May Struggle to Secure Work This Summer"},"content":{"rendered":"<p style=\"text-align: center;\"><em><strong>American contractors may face difficulties in securing work this summer due to a decrease in the construction backlog.&nbsp;<\/strong><\/em><\/p>\n<p><span style=\"font-weight: 400;\">The Associated Builders and Contractors (ABC) Construction Backlog Indicator showed that the average time for projects decreased to 8.7 months in March and April 2023, a 0.4-month increase compared to March 2022.<\/span><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-40926 aligncenter\" src=\"https:\/\/www.my-equipment.com\/blog\/wp-content\/uploads\/2023\/04\/graph.png\" alt=\"\" width=\"480\" height=\"322\" srcset=\"https:\/\/www.my-equipment.com\/blog\/wp-content\/uploads\/2023\/04\/graph.png 480w, https:\/\/www.my-equipment.com\/blog\/wp-content\/uploads\/2023\/04\/graph-300x201.png 300w, https:\/\/www.my-equipment.com\/blog\/wp-content\/uploads\/2023\/04\/graph-272x182.png 272w\" sizes=\"auto, (max-width: 480px) 85vw, 480px\" \/><\/p>\n<blockquote><p><span style=\"font-weight: 400;\">The construction Backlog Indicator Shows a Decrease in Average Time for Projects<\/span><\/p><\/blockquote>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_82_2 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.my-equipment.com\/blog\/2023\/04\/american-contractors-may-struggle-to-secure-work-this-summer\/#South_Continues_to_Buck_Trend_with_High_Levels_of_Building_Activity\" >South Continues to Buck Trend with High Levels of Building Activity<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.my-equipment.com\/blog\/2023\/04\/american-contractors-may-struggle-to-secure-work-this-summer\/#ABCs_Construction_Confidence_Index_Suggests_Mixed_Results\" >ABC&#8217;s Construction Confidence Index Suggests Mixed Results<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.my-equipment.com\/blog\/2023\/04\/american-contractors-may-struggle-to-secure-work-this-summer\/#Chief_Economist_Warns_of_Potential_Slowdown_in_Nonresidential_Construction\" >Chief Economist Warns of Potential Slowdown in Nonresidential Construction<\/a><\/li><\/ul><\/nav><\/div>\n<h3><span class=\"ez-toc-section\" id=\"South_Continues_to_Buck_Trend_with_High_Levels_of_Building_Activity\"><\/span><strong>South Continues to Buck Trend with High Levels of Building Activity<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">The Southern region continues to be an exception, with ongoing and upcoming building activity resulting in no monthly decrease in the backlog. However, every other region in the United States sees a decline in the backlog, making it more challenging for contractors to secure work.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"ABCs_Construction_Confidence_Index_Suggests_Mixed_Results\"><\/span><strong>ABC&#8217;s Construction Confidence Index Suggests Mixed Results<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">While the figures for profit margins and staffing levels declined in March, the sales figure increased somewhat according to ABC&#8217;s Construction Confidence Index. The figures suggest mixed results, with some aspects of the industry potentially improving while others decline.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Chief_Economist_Warns_of_Potential_Slowdown_in_Nonresidential_Construction\"><\/span><strong>Chief Economist Warns of Potential Slowdown in Nonresidential Construction<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">ABC&#8217;s Chief Economist Anirban Basu warns that the deceleration in nonresidential construction activity may have started. The widespread fears of a recession, worsening financing conditions, and more decision-makers focusing on cost-cutting could lead to challenges for contractors in lining up new construction work. Although the backlog and confidence indicators declined in March, they still show a slowing of activity rather than a change for the worse. The bankruptcies of Silicon Valley Bank and Signature Bank have led to a commonly held belief that financial conditions are becoming tighter. If this is the case, the economy may continue to slow down, and business confidence may decline in the coming months.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>American contractors may face difficulties in securing work this summer due to a decrease in &hellip; <a href=\"https:\/\/www.my-equipment.com\/blog\/2023\/04\/american-contractors-may-struggle-to-secure-work-this-summer\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;American Contractors May Struggle to Secure Work This Summer&#8221;<\/span><\/a><\/p>\n","protected":false},"author":3,"featured_media":40928,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[126],"tags":[632],"class_list":["post-40924","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-american-contractors"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.2 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>American Contractors May Struggle to Secure Work This Summer - Heavy Equipment Market Insights | News | Guides &amp; 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