Architectural Billings Index Suggests Improved Construction Outlook for 2015
January 21, 2015
While the numbers for last November declined slightly, the Architectural Billings Index marked its seventh consecutive positive month — a good sign for the construction outlook in 2015.
Compiled by the American Institute of Architects, the ABI is a leading economic indicator for construction: It takes approximately nine months to a year between architecture billings and construction spending.
The report attributes the growth to continuing demand for apartments and condos and to state and local governments beginning public projects that had been delayed.
The South was the region showing the strongest growth rate, at 57.9; other regional scores were 52.7 for the West, 49.8 for the Midwest and 46.7 for the Northeast. (The regional rates are based on a single month, but a rolling three-month average.)
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