“With steady demand for design work in all major nonresidential building categories, the construction sector seems to be stabilizing,” said AIA’s chief economist, Kermit Baker, PhD, Hon. AIA. “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.”
The regional scores were Northeast at 55.6, South at 54.8, West at 51.2, and Midwest at 48.3.
The sector index breakdown was commercial/industrial at 54.7, multifamily residential at 54.0, mixed practice at 52.4, and institutional at 51.8.
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Publication date: 8/5/2013