Quote of the day: Encouraging news

“The most encouraging part of this news is that this is the second month with very strong inquiries for new projects. A growing number of architecture firms report potential projects arising from federal stimulus funds. … Still, too many architects are continuing to report difficult conditions to feel confident that the economic landscape for the construction industry will improve very quickly. What these figures mean is that we could be seeing things turn around over a period of several months.”

American Institute of Architects Chief Economist Kermit Baker, commenting on the data released in the Architecture Billings Index (ABI). The report shows that architecture billings fell less than a full point in April, marking “the first time since August and September 2008 that the index was above 40 for consecutive months.” Calculated Risk has some nice graphs that show the Architecture Billings Index since 1996.

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