Dive summary:
- The Architectural Billings Index glass is definitely still more than half full, but it was not filling up quite as quickly last month.
- The index, which counts architects inquiries and assignments, is considered a nine- to 12-month leading indicator of what will happen in construction when the plans are done, and it remained above its median of 50 in March, meaning growth was present.
- The 51.9 was lower than February's 54.9, but still well within the over-50 range that signals business in increasing rather than decreasing, and all sectors and regions were in positive territory, the American Institute of Architects said.
From the article:
“Business conditions in the construction industry have generally been improving over the last several months,” said AIA Chief Economist, Kermit Baker, PhD, Hon. AIA. “But as we have continued to report, the recovery has been uneven across the major construction sectors...."