Commercial Construction Indicator Nudges Up In February
CRE Design Activity, Multifamily Building Boom Fuel Construction Growth
By Randyl Drummer
March 19, 2014
Billings for work on the books by architecture firms increased slightly in February despite the idling of business and construction activity by bad weather in many areas, according to the Architecture Billings Index.
Published monthly by the American Institute of Architects, the ABI was 50.7 in February, compared with 50.4 in January. Increases in the in the Northeast and Midwest were offset by declines in the South and West.
Unusually severe weather in many parts of the country "have obviously held back both design and construction activity," even as the improving economy is causing developers to resurrect stalled projects, said AIA Chief Economist Kermit Baker.