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| Architecture Billings Index Positive Again The Architecture Billings Index (ABI), a leading economic indicator of nonresidential construction activity in USA, was positive in March. The ABI has been positive for eighteen consecutive months and twenty-seven out of the last twenty-eight months. The American Institute of Architects (AIA) reported the March ABI rating was 50.5 (any score above 50 indicates an increase), down from the 55.5 mark in February. "While the index has leveled off a bit compared to previous scores, there are enough nonresidential projects slated to begin construction over the next several months that this month's numbers should not be cause for concern, " said AIA Chief Economist Kermit Baker, PhD, Hon. AIA. "In terms of the nonresidential construction market, the retail, education and health-care sectors have all increased at a double-digit rate in February compared to year-ago levels." This news comes on the heels of the Census Bureau reporting that housing starts in March were lower than forecasted and finished with the second slowest rate over the last twelve months, behind December. Building permits, which are indicative of builder confidence, fell more than expected as well. write your comments about the article :: © 2006 Construction News :: home page |