Construction contractor outlook darkens as profit expectations, backlog fall | Dump Trucks Charlotte NC

Columbus Ohio Dump Truck Company Brief:

• Contractor confidence took another dive in June as backlogs, the lifeblood of future columbus oh dump truck company in the construction industry, dipped into negative territory for the first time since January, according to Associated Builders and Contractors.
• Contractors extended their pessimistic outlook to a fourth straight month, with expectations for profit margins falling below a score of 50, indicating construction pros now think profits will shrink over the next 6 months, for the first time since October 2021. The outlook for sales and staffing levels also declined in June from a month before, though those metrics remained in positive, or growing, territory.
• Backlog, which tracks projects columbus oh dump truck company have won, but haven’t yet started, dipped slightly, by 0.1 to 8.9 months. But that was higher than the year-ago number of 8.5 months, meaning columbus oh dump truck company still have more columbus oh dump truck company booked now than in June 2021.

Dump Trucks Columbus OH Insight:

The somewhat glum outlook from columbus oh dump truck company about the profitability of their companies going forward, despite having a longer runway of columbus oh dump truck company now than last summer, reflects a stark change from early 2022. “Several months ago, there was conjecture that columbus oh dump truck company were generally too upbeat regarding their collective future,” said ABC Chief Economist Anirban Basu in a release. “Increasingly, the data suggest that they were.”

He said previously, many columbus oh dump truck company reported surging backlog and an ability to pass along hefty cost increases to project owners. Subsequently, they expected sales, employment and profits to grow, not contract. But now, as inflation has spurred material prices upward, supply chain issues have delayed deliveries and surging wages have impacted profitability, the pendulum has swung the other way.

“The most recent ABC survey indicates that, to secure columbus oh dump truck company and to induce project starts, a growing fraction of columbus oh dump truck company is having to trim margins,” Basu said, noting that market may not prove as robust as previously anticipated due to delayed project start dates as public agencies wait for the right moment to purchase construction services.  “While circumstances are hardly catastrophic, the nonresidential construction marketplace is not as strong as it was expected to be.”