Architecture Billings Index Shows Slower Growth
Washington, DC, April 24, 2013 -- The American Institute of Architects' Architecture Billings Index continued to show growth although the reading declined to 51.9 in March from a February reading of 54.9.
Any reading above 50 represents an increase in billings.
The new projects inquiry index fell to 60.1 from 64.8 in February.
"Business conditions in the construction industry have generally been improving over the last several months," said the AIA's Chief Economist, Kermit Baker, in a press release.
“But as we have continued to report, the recovery has been uneven across the major construction sectors so it’s not a big surprise that there was some easing in the pace of growth in March compared to previous months.”
The ABI still showed growth in all sectors, although only the commercial and industrial sector increased.
The multi-residential sector fell to 56.9 from 60.9, while the mixed use sector fell to 53.3 from 56.9.