By Ben Thorpe – Equipment World – November 7, 2024
A recent Equipment World poll found half of all contractor respondents had a backlog of three months or less.
“No backlog” was the most select option, by 25.2% of contractors. Over the month of October, 143 contractors took our online poll.
Fewer contractors said they have a backlog of seven to nine months (9.1%) or a 10- to 12-month backlog (8.4%). The percentage rose slightly for those with backlogs over a year, to 14.7%.
When asked what factors are impacting their backlog, several contractors pointed to a struggling economy and rising interest rates. Some pointed to fear in the market from the (at the time) upcoming election as a negative factor in their project backlog, and others mentioned a lack of government funding on projects. Some simply said there’s more competition in their area and less work to be had.
Other backlog factors contractors mentioned included rising material prices, permit approvals, the high cost of equipment and labor shortages.