The American Institute of Architects (AIA) reported the March ABI score was 50.5, a negligible decrease from a reading of 50.6 the previous month. This score reflects a modest increase in demand for design services (any score above 50 indicates an increase in billings). The new projects inquiry index was 58.7, up significantly from a mark of 56.4 in February. — AIA
AIA Chief Economist, Kermit Baker, said that architecture firms are in a place when demand isn't falling back into negative territory but also not seeing the same growth that was seen in late 2010. "The catalyst for a more robust recovery is likely financing, with stronger growth occurring only when lending institutions begin approving credit for construction projects with much greater regularity," said Baker.
Nick Zieminski, of Reuters, went on to further add, "most diversified industrial companies get revenue from nonresidential construction, selling machinery used for erecting buildings or components such as elevators or electrical and cooling systems." National companies that benefit from increased architecture billings include Honeywell International, Tyco International, Johnson Controls, Eaton , Caterpillar Inc, Deere & Co and Terex Corp while European companies include Philips, Seimens, Schneider Electric and Assa Abloy.
March ABI Figures
Project inquiries index: 58.7
Sector index breakdown: