After months of slowed growth at the end of last year, the Architecture Billing Index ticked up slightly in January. The ABI score was measured at 50.4, up from 48.5 in December—and that’s good news because any score above 50 means positive growth. The positive number was largely due to growth in the South (53.5) and the West (51.1). The ABI dipped below 50 in both the Midwest and Northeast, with scores of 46.5 and 43.6, respectively.
BILLINGS BY REGION: NORTHEAST (ORANGE), MIDWEST (BLUE), SOUTH (RED), WEST (GREEN).
By sector, multi-family residential (51.8) and commercial/industrial (50.9) showed the strongest growth, while mixed practice (48.4) and institutional (46.5) both failed to post gains. And while January’s overall ABI was above 50, the new projects inquiry index dropped slightly from 59.2 to 58.5.
Overall, January was a pretty good month. “There is enough optimism in the marketplace that business conditions should return to steady growth as the year progresses,” said AIA Chief Economist Kermit Baker in a statement.BILLINGS BY SECTOR: RESIDENTIAL (ORANGE), COMMERCIAL/INDUSTRIAL (BLUE), INSTITUTIONAL (RED), MIXED-USE (GREEN).