Last month, our reporting of the Architecture Billings Index was a little pessimistic, as the slight upward movement was no sure sign of a stable recovery. Yet, February marks the fourth month the Billings Index has remained in positive territory (a score of 50 or more indicates as such), and while we are cautious to mark the volatile index’s movement as a trend, we sure hope it is! February reported a score of 51.0 and a significant jump was reached in the new project inquiry index (up from 61.2 to 63.4). In fact, the 63.4 score is the highest inquires for new projects since July of 2007. “This is more good news for the design and construction industry that continues to see improving business conditions,” said AIA Chief Economist, Kermit Baker, PhD, Hon. AIA. “The factors that are preventing a more accelerated recovery are persistent caution from clients to move ahead with new projects, and a continued difficulty in accessing financing for projects that developers have decided to pursue.” Breaking the index down regionally, the Midwest leads with 56.0, followed by the South, Northeast and finally the West with scores of 51.3, 51.0, 45.6, respectively.
