The headlines say it all "ABI Sees Highest Reading Since March 2008"... The American Institute of Architects (AIA), reported that the ABI was up more than two points in February to 44.8, and more than a point in March, coming in at 46.1. Although any score less than 50 indicates a decrease in billings, March 2010 is the highest score recorded since March of 2008. In even brighter news, the New Projects inquiry index was 58.5.
“This is certainly an encouraging sign that we could be moving closer to a recovery phase, even though we continue to hear about mixed conditions across the country,” said AIA Chief Economist Kermit Baker, PhD, Hon. AIA. Mixed is a fair assessment when looking at the scores on a regional basis:
The ABI is a leading economic indicator of construction activity, and reflects the approximate nine to twelve month lag time between architecture billings and construction spending.
“This is certainly an encouraging sign that we could be moving closer to a recovery phase, even though we continue to hear about mixed conditions across the country,” said AIA Chief Economist Kermit Baker, PhD, Hon. AIA. Mixed is a fair assessment when looking at the scores on a regional basis:
- Midwest - 50.5
- Northeast - 47.0
- West - 46.0
- South - 44.4
The ABI is a leading economic indicator of construction activity, and reflects the approximate nine to twelve month lag time between architecture billings and construction spending.
