The Architectural Billings Index rose again in March, with design billings increasing in every region but the Northeast.
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.
“Business conditions at architecture firms generally are quite healthy across the country. However, billings at firms in the Northeast were set back with the severe weather conditions, and this weakness is apparent in the March figures,” said AIA Chief Economist Kermit Baker. “The multi-family residential market has seen its first occurrence of back-to-back negative months for the first time since 2011, while the institutional and commercial sectors are both on solid footing.”
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