ABI above 40 (May 2009)

The American Institute of Architects, Washington, D.C., reported that the March Architectural Billings Index was up more than eight points. The March ABI rating was 43.7, up from the 35.3 mark in February. This was the first time since September2008 that the index was above 40, but the score still indicates an overall decline in demand for design services (any score above 50 indicates an increase in billings). “This news should be viewed with cautious optimism,” said AIA Chief Economist Kermit Baker, Ph.D., Hon. AIA. “The fact that inquiries for new projects increased is encouraging, but it willlikely be a few months before we see an improvement in overall billings. Architects continue to report a diversity of business conditions, but the majority is still seeing weak activity levels.” Key March ABI highlights include: Regional averages: South 43.4, Northeast 41.8, Midwest 37.5, West 36.1 Sector index breakdown: mixed practice 44.0, institutional 42.9, multifamily residential 39.4, commercial/ industrial 35.0 Project inquiries index: 56.6