Despite economic uncertainty, construction backlog remained steady at 8.4 months in November, reflecting continued resilience in the sector. According to a survey by Associated Builders and Contractors (ABC), contractors are hopeful for a rebound in privately financed projects, driven by lower borrowing costs and increased policy clarity following the presidential election.

ABC’s chief economist, Anirban Basu, commented on the sector’s stability: “Contractor confidence surged in November even though backlog remained unchanged. This sudden improvement in confidence reflects increased policy certainty after November’s presidential election, and contractors are optimistic about falling borrowing costs in the next few quarters.”

Infrastructure backlog continued to outperform, showing a year-over-year increase despite some category declines. Heavy industrial backlog grew by 0.6 months in November, while commercial and institutional backlog remained flat. If borrowing costs decrease further, contractors anticipate a resurgence in privately funded projects.