March ABI shows commercial building projects in greatest demand
The commercial sector continues to lead the Architecture Billings Index, which remained in positive territory in March, according to the American Institute of Architects. AIA officials reported the March ABI score was 50.4, following a mark of 51.0 in February.
“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,” said AIA Chief Economist Kermit Baker, in an April 18 AIA release. “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.”
Commercial building projects led demand in March, with the commercial/industrial sector posting a score of 56.0; multi-family residential, 51.9; institutional, 47.7; and mixed practice, 47.2.