ABI Closes Q1 on a Positive Note

The American Institute of Architects (AIA) reported the March ABI score was 51.9, up from 50.3 February and indicating an increase in design services. The new projects inquiry index was 58.1, down from a reading of 59.5 the previous month.

“The first quarter was somewhat disappointing in terms of the growth of design activity, but fortunately expanded a bit entering the traditionally busy spring season. The Midwest is lagging behind the other regions, but otherwise business conditions are generally healthy across the country,” said AIA Chief Economist, Kermit Baker, Hon. AIA, PhD. “As the institutional market has cooled somewhat after a surge in design activity a year ago, the multi-family sector is reaccelerating at a healthy pace.”