Architectural Billings Index Moves Up in February

Washington, DC, March 18, 2009--The Architectural Billings Index, a leading indicator of U.S. nonresidential construction activity, rose slightly in February from a record low the previous month.

The index rose 2 points to 35.3 last month, according to the American Institute of Architects. Any reading below 50 indicates a decline in billings from the month before.

All four geographic regions tracked by the group remained below 50, as did all four construction subsectors. However, a measure of inquiries for new projects rose 6 points to 49.5.

"The improvement in the inquiries index does provide hope that some stalled projects will resurface in the near future," AIA chief economist Kermit Baker said in a press release.

The AIA's monthly survey, which began in 1995, is considered a measure of activity nine to 12 months in the future.

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