Architectural Billings Holding Steady
Want to get a jump-start on upcoming deals? Meet the major Boston players at one of our upcoming events!
|This morning we snapped work at the Cambridge Discovery Park site that Bulfinch has been developing for offices. Chances are slim that these machines will overpopulate the landscape, according to the January American Institute of Architects? Architectural Billings Index. It held steady last month after two months of improvements. The January score of 50.0 was down from 53.9 in December, indicating a steady demand for design services. The new project index of 56.5 was down sharply from 61.6 in December. A leading indicator of construction, architectural billings are usually nine to 12 months ahead of construction spending. For the January Index, the Midwest led with a score of 56.4, followed by the South with 51.5, the Northeast 50.4 and the West 47.3. Among asset types, commercial/industrial led with 54.6, then came multifamily, 53.7, institutional, 51.3 and mixed-use 48.7. Hopefully those aren't bringing back memories of your school grades.|