Dive summary:
- The American Institute of Architects' compilation of what its members are seeing in the pipeline for work came in at 54.2 on its 0-100 scale, and that was as strong an indicator of coming construction as the group has seen since November 2007.
- Another calculation the AIA's index of inquiries about work, stood at 63.2 after being at 57.9 in December.
- The index uses 50 as the point above which aggregate billings are rising, and it is considered an indicator of what projects are coming nine to 12 months down the road.
From the article:
"We have been pointing in this direction for the last several months, but this is the strongest indication that there will be an upturn in construction activity in the coming months," said AIA Chief Economist, Kermit Baker....