AIA Architecture Billing Index Led By Commercial Construction
The Architecture Billings Index (ABI) by the American Institute of Architects (AIA) has now seen 4 consecutive months of scores over 50.0. The reported score in February was 51.0, while the new projects inquiry score was 63.4. The AIA chief economist, Kermit Baker, stated that a factor preventing a more accelerated recovery was caution of clients to move forward with new projects, and difficulty in obtaining financing for new projects.
This report could translate into future work for your construction Company assuming your customers are willing to start building, and have the ability to pay for their projects. One important comment to take away from this is that the new projects inquiry is at the highest level since before the recession, which further indicates improving business conditions for the industry. Read the AIA press release for full detail of the February ABI scores.
