The new projects inquiry index was 63.4, up from 61.2 the previous month and its highest reading since July 2007.
“This is more good news for the design and construction industry that continues to see improving business conditions,” said AIA Chief Economist, Kermit Baker, PhD, Hon. AIA. “The factors that are preventing a more accelerated recovery are persistent caution from clients to move ahead with new projects, and a continued difficulty in accessing financing for projects that developers have decided to pursue.”
Regional numbers for February were the Midwest at 56.0, South at 51.3, Northeast at 51.0, and West at 45.6. The sector index breakdown was commercial/industrial at 55.1, multifamily residential at 53.3, institutional at 50.3, and mixed practice at 46.3.
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Publication date: 04/02/2012