Architecture Billings Index was at 50.4 in February, up from 49.9 in January, the American Institute of Architects said Wednesday.
The new projects inquiry index was 56.6, down from a reading of 58.7 the previous month. New project inquiries, though indicating growth, were at their slowest pace of increase in two and one-half years.
Institutional firms have now reported nine straight months of gains in billings, reflecting healthy growth levels over this period. However, offsetting the improving situation at institutional forms is the weakness at residential firms. The residential ABI fell below 50 in February for the first time since the third quarter of 2011.