2024 provides promise that positive momentum will continue to build, largely due to the expectation of lower interest rates, said Branch.
The American Institute of Architects’ Architecture Billings Index, which tracks architectural design activity, also showed some positive signs, with fewer firms reporting a decline in billings. The ABI is a leading indicator of construction activity nine to 12 months out.
Manufacturing starts rebound again
Among one of the favorites for heightened activity this year, manufacturing construction starts rebounded 75% in December.
