Steel Markets
February 21, 2020
January ABI Suggests Upturn in Construction
Written by Sandy Williams
Architecture firms reported an increase in business in January. The American Institute of Architects’ Architecture Billings Index rose to 52.2 last month, compared to a revised score of 52.1 in December. New project inquiries and new design contracts for nonresidential construction posted scores of 57.9 and 56.0, respectively.
“Despite the continued presence of volatility in the economy, design activity has begun to accelerate in recent months,” said AIA Chief Economist Kermit Baker. “Even with the ongoing challenges facing the nonresidential construction sector, this upturn points to at least modest growth over the coming year.”
The three month averages by region were South (56.7), West (52.1), Midwest (51.3), and Northeast (45.3).
Averages by sector were mixed practice (51.6), commercial/industrial (51.5), multi-family residential (51.2), and institutional (51.1).
