Contract - Architectural Billings Drop Slightly in March

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Architectural Billings Drop Slightly in March

24 April, 2013

-By Holly O'Dell


Architectural billings for March slowed but design services are still in demand, according to a new report from the American Institute of Architects (AIA). The Architecture Billings Index (ABI), an economic indicator of construction activity, shows a March score of 51.9—down from 54.9 in February. The new projects inquiry index was 60.1, down from 64.8 the previous month.

“Business conditions in the construction industry have generally been improving over the last several months,” says AIA chief economist Kermit Baker. “But as we have continued to report, the recovery has been uneven across the major construction sectors, so it’s not a big surprise that there was some easing in the pace of growth in March compared to previous months.”

By region, the Northeast reported the best reading at 54.6, followed by the Midwest (53.9), South (53.6), and West (51.9). The commercial/industrial and institutional sectors came in at 53.5 and 50.6, respectively. Multi-family residential reported a score of 56.9, while mixed practice stood at 53.3.
 


Architectural Billings Drop Slightly in March

24 April, 2013


Architectural billings for March slowed but design services are still in demand, according to a new report from the American Institute of Architects (AIA). The Architecture Billings Index (ABI), an economic indicator of construction activity, shows a March score of 51.9—down from 54.9 in February. The new projects inquiry index was 60.1, down from 64.8 the previous month.

“Business conditions in the construction industry have generally been improving over the last several months,” says AIA chief economist Kermit Baker. “But as we have continued to report, the recovery has been uneven across the major construction sectors, so it’s not a big surprise that there was some easing in the pace of growth in March compared to previous months.”

By region, the Northeast reported the best reading at 54.6, followed by the Midwest (53.9), South (53.6), and West (51.9). The commercial/industrial and institutional sectors came in at 53.5 and 50.6, respectively. Multi-family residential reported a score of 56.9, while mixed practice stood at 53.3.
 
 


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