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Associated Builders and Contractors (ABC) reported last week that its Construction Backlog Indicator rebounded to 8.0 months in August, an increase of .2 months from July. The positive gains in new construction starts, jobs, and backlog provided a glimmer of hope for the industry, following a summer of worrisome trends as a result of the pandemic.
Nonresidential building starts rose 16% while nonbuilding construction jumped by 40%, according to Dodge Data & Analytics, and construction unemployment currently sits lower than the national average. Overall, the numbers indicate that construction has rebounded from the negative effects of the pandemic, more than any other industry according to economists.
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