Economy
March 21, 2018
ABI Growth a Positive Sign for Construction
Written by Sandy Williams
Billings slowed slightly at architecture firms in February, reported the American Institute of Architects. AIA’s Architecture Billings Index (ABI) registered 52.0, down from 54.7 in January. February’s reading above 50 marked the fifth consecutive month of growth for billings. Inquiries into new projects and the value of new signed design contracts both increased in February, said AIA.
Business conditions were strong across the U.S. except in the Northeast where billings fell for the third consecutive month. Firms in the West reported the strongest conditions for that region in a decade. Strongest activity was reported at firms that specialize in residential construction.
