US ABI index in positive territory again in March

Thursday, 19 April 2012 01:36:02 (GMT+3)   |  
       

The American Institute of Architects (AIA) reported Wednesday that the commercial construction sector continued to keep the Architecture Billings Index (ABI) positive for the fifth consecutive month in March. The March ABI score was 50.4, down from 51 in February The project inquires index was the highest at 56.6; commercial industrial was 56; residential was 51.9 and institutional was 47.7. The Midwest had the highest regional ABI at 54.1 while the lowest was in the West with 46.6. The ABI reflects the approximate nine to 12 month lag time between architecture billings and construction spending.

AIA Chief Economist Kermit Baker commented, "We are starting to hear more about improving conditions in the marketplace, with a greater sense of optimism that there will be greater demand for design services. But that is not across the board and there are still a number of architecture firms struggling so progress is likely to be measured in inches rather than miles for the next few months."


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