As a follow up to a previous post we recently published regarding the positive look on the Architecture Billings Index (ABI), forward-looking indicators for building and construction activity have been turning increasingly positive over recent months, which is the good news. Current market conditions for architecture and the near-term outlook for the construction industry in the US is a two-sided story, with forward-looking indicators showing steady improvement but serious concerns arising out of an impending ‘fiscal cliff’. To be sure, the good news is not evenly spread across sectors and regions. Buoyed by lower interest rates, growing demand for rental accommodation and the progressive subsiding of the mortgage crisis, the residential building sector (57.3) is improving quickly whereas activity in commercial and industrial building remains flat. More information after the break.
