Over the past few months the Architecture Billings Index has shown the strongest growth in the demand for design services since 2007 and once again reports an incrementally strengthened score of 54.9 for February, a slight increase from a 54.2 in January (and a 51.2 in December). All four regions scored above 50, an indicator of positive growth. The Northeast performed the best at 56.7, the West and the Midwest tied at 54.7, and the South finished with a 52.7.
BILLINGS BY REGION: NORTHEAST (ORANGE), MIDWEST (BLUE), SOUTH (RED), WEST (GREEN).
Inquiries for new projects scored the highest mark since January 2007, steadily inching to a 64.8 from last month’s 63.2. “Conditions have been strengthening in all regions and construction sectors for the last several months,” AIA Chief Economist Kermit Baker said in a statement. “Still, we also continue to hear a mix of business conditions in the marketplace as this hesitant recovery continues to unfold.”
By sector, all areas were in positive territory and showed a healthy increase from January: mixed practice (56.9), commercial/industrial (53.3), institutional (50.2), and multi-family residential (60.9), which particularly soared from a 54.9 in January.BILLINGS BY SECTOR: RESIDENTIAL (ORANGE), COMMERCIAL/INDUSTRIAL (BLUE), INSTITUTIONAL (RED), MIXED-USE (GREEN).