ABI in positive territory for third straight month
The Architecture Billings Index has now reached positive territory three months in a row, according to the American Institute of Architects. AIA officials reported the January ABI score was 50.9, following a mark of 51.0 in December.
“Even though we had a similar upturn in design billings in late 2010 and early 2011, this recent showing is encouraging because it is being reflected across most regions of the country and across the major construction sectors,” said AIA Chief Economist Kermit Baker, in a Feb. 22 AIA release. “But because we still continue to hear about struggling firms and some continued uncertainty in the market, we expect overall economic improvements in the design and construction sector to be modest in the coming months.”
The Midwest led the way in January with a score of 53.7, followed by the South at 51.6. Multi-family residential projects posted the highest score for the month.