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The Associated Builders and Contractors' Construction Backlog Indicator declined 2.8% during the first quarter of 2014. The quarterly drop left the CBI with an average backlog of 8.1 months, down from 8.3 months during the previous quarter but up from 7.9 months as compared with the figures of 2013. The CBI reflected the amount of commercial and industrial construction work under contract but not yet completed. Anirban Basu, ABC chief economist, informed that second-quarter business spending would increase despite decline in overall backlog during the first quarter of 2014, as only one in three industry segments, such as commercial-institutional, saw a decrease in backlogs.
