U.S. Architecture Billings Index rises in September
An increase in demand for institutional projects has been the leading factor for the rise. Institutional projects can consist of Education, Childcare, Healthcare, Life Science and Government/Civil projects. Overall, new architectural projects as a whole have escalated throughout the months.
“Strong demand for apartment buildings and condominiums has been one of the main drivers in helping to keep the design and construction market afloat in recent years,” said AIA chief economist Kermit Baker, Hon. AIA. “There continues to be a healthy market for those types of design projects, but the recently resurgent Institutional sector is leading to broader growth for the entire construction industry.”
Click here for the national and sector breakdowns.