“With three straight monthly gains — and the past two being quite strong — it’s beginning to look like demand for design services has turned the corner,” said AIA Chief Economist, Kermit Baker, Ph.D., Hon. AIA. “With 2012 winding down on an upnote, and with the national elections finally behind us, there is a general sense of optimism. However, this is balanced by a tremendous amount of anxiety and uncertainty in the marketplace, which likely means that we’ll have a few more bumps before we enter a full-blown expansion.”
All regions reported positive business conditions. The regional numbers for October were the South at 52.8, Northeast at 52.6, West at 51.8, and Midwest at 50.8.
The sector index breakdown for the month was multifamily residential at 59.6, mixed practice at 52.4, institutional at 51.4, and commercial/industrial at 48.0.
Publication date: 12/3/2012