The Index still isn't robust but it has improved dramatically off the bottom.
“Project cancelations, regardless of when they happen in the design phase, continue to be the main road block to recovery for the construction sector,” said AIA Chief Economist Kermit Baker, PhD, Hon. AIA. “Numerous projects have been put on hold indefinitely over the last several months with little hope that they will be resumed. Work that is being done is more likely smaller renovation projects, as opposed to new buildings.”
Key August ABI highlights:
- Regional averages: Northeast (50.9), Midwest (49.2), West (45.8), South (45.3)
- Sector index breakdown: commercial / industrial (50.6), ), multi-family residential (46.9), institutional (46.0), mixed practice (42.6)
- Project inquiries index: 54.6