February continued January’s modest increase in spending on architectural design, as measured by the Architectural Billings Index.
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.
Unusually severe winter weather has constrained both construction and design spending, said AIA Chief Economist Kermit Baker, looking forward to March and April results as better indications of the underlying health of the construction and design markets: “We are hearing reports of projects that had been previously shelved for extended periods of time coming back online as the economy improves.”
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