Wednesday, January 20, 2010
ABI ends 2009 with small jump
The residential sector finished 2009 at 51.0, a bump Baker calls “encouraging,” while the commercial/industrial sector fell slightly to 42.7 and the institutional sector is down to 44.2.
Regional numbers were mixed, with the Northeast and Midwest each climbing a point to 48.6 and 46.6, respectively, and the South and West dropping to 43.2 and 40.0, respectively.
Baker sees the second quarter as prime time for a billings recovery, saying it should follow the path of the stock market and gross domestic product.
“It looks like we’re in to the economic recovery,” he says. “We need to claw out of the downturn a little bit more to see some construction.”