Once again, the Architecture Billing Index is reflecting a steady upturn in design activity with all regions and building sectors continuing to report positive business conditions. The American Institute of Architects reported the March ABI score was 51.9, down from a mark of 54.9 in February. The new projects inquiry index was 60.1, down from the reading of 64.8 the previous month.
“Business conditions in the construction industry have generally been improving over the last several months,” said Kermit Baker, PhD, AIA Chief Economist and Hon. AIA. “But as we have continued to report, the recovery has been uneven across the major construction sectors so it’s not a big surprise that there was some easing in the pace of growth in March compared to previous months.”
March ABI Highlights
– Regional averages: Northeast (54.6), Midwest (53.9), South (53.6), West (51.9)
– Sector index breakdown: multi-family residential (56.9), commercial/industrial (53.5), mixed practice (53.3), institutional (50.6)
– Project inquiries index: 60.1
The ABI reflects the approximate nine to 12 month lag time between architecture billings and construction spending. Any score above 50 indicates an increase in billings.