March 27, 2006—The Architecture Billings Index (ABI), a leading economic indicator of nonresidential construction activity, was positive again in February, notes the American Institute of Architects. (AIA).
The ABI has been positive for seventeen consecutive months and twenty-six out of the last twenty-seven months, after seasonal adjustments. This is the longest stretch that the index has been positive since April 1998 through December 2000. The AIA reported the February ABI rating was 55.5 (any score above 50 indicates an increase), the same score that was registered in January.
“The fact that we are seeing consistently strong numbers at architecture firms over such a prolonged period without any dips is especially encouraging for the nonresidential construction outlook,” said AIA Chief Economist Kermit Baker, PhD, Hon. AIA. “These figures are following along a similar path as the conditions that led to a very healthy construction sector in the late 1990s.”
For more information, visit the AIA Web site.
