First Quarter Closes with ABI Growth
April 19, 2018
Project Backlogs Highest Since Recession
“New project activity coming into architecture firms continues to grow at a solid pace. As a result, project backlogs—in excess of six months at present— are at their highest post-recession level,” said American Institute of Architects Chief Economist Kermit Baker, Hon. AIA, describing the recent Architecture Billings Index.
The overall ABI score for March was 51.0. Regional averages were higher in the West (53.4), South (53.2), and Midwest (50.7) than in the Northeast (49.0).
Baker added, “Business remains strong in the South and West, and firms with a residential specialization continue to set the pace.”