Another month and yet another uptick in the American Institute of Architects‘ Architecture Billings Index, this time returning it to a level around where it was at the start of the economic collapse back in August of last year. Though we don’t think anyone is apt to yet say Marvin Malecha, the AIA’s president, was correct in forecasting a quick turnaround in the industry, it’s nice to have two months of positive developments instead of the long, slow drag downward the ABI was experiencing throughout the fall and winter. Here’s a bit:
All four geographic regions tracked by the group remained below 50, as did all four construction subsectors. But a measure of inquiries for projects rose 7 points to 56.6, its third
consecutive monthly increase.
“The fact that inquiries for new projects increased is encouraging, but it will likely be a few months before we see an improvement in overall billings,” AIA Chief Economist Kermit Baker said. “This news should be viewed with cautious optimism.”