Numbers are staying strong. AIA’s Architecture Billing Index for the month of June has revealed steady, but positive growth. The June ABI score of 51.6 reflected only a slight drop from May’s score of 52.9, and still indicates a general upswing for the non-residential construction industry. More projects will likely be on the horizon. The new projects inquiry index reported a significant climb in numbers to 62.6 from 59.1 the previous month.
“With steady demand for design work in all major nonresidential building categories, the construction sector seems to be stabilizing,” said AIA Chief Economist, Kermit Baker, in a statement. “Threats to a sustained recovery include construction costs and labor availability, inability to access financing for real estate projects, and possible adverse effects in the coming months from sequestration and the looming federal debt ceiling debate.”
Across the country, the numbers were generally up with the exception of the West, which experienced a slight dip to 51.2 from 52.1 in May. It was, however, a particularly robust month for the Northeast which came out with a score of 55.6. The South also finished strong with an uptick to 54.8 from 50.9 last month in June. And even the Midwest saw progress with a score of 48.3.
All sectors remain on solid footing but institutional has slowed down a smidgen: commercial / industrial (54.7), multi-family residential (54.0), mixed practice (52.4), institutional (51.8).