A two month contraction in architectural spending ended in January, with a modest uptick in 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.
AIA Chief Economist Kermit Baker credited the suspension of the debt ceiling with removing anxiety over federal projects, but added “Private sector spending should lead the construction upturn this year, which will depend more on employment growth and continued improvement in the overall economy.”
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