While it took some time for the contrcution industry to find its footing, Greater Boston construction has seen employment gains of 7.3 percent since December 2010. Helping the sector rebound is the 1.4 million square feet of office and lab space currently underway here.
Given recent gains, the outlook for construction in Greater Boston is bright. According to the Architectural Billings Index (ABI), which is a leading economic indicator for construction activity, the Northeast is leading the nation in billings with an ABI of 56.7. A score of 50 represents the diffusion center. This is a positive sign for the market.. Just 12 months ago our ABI stood at 46.
Residential construction continues to lead the upturn, with commercial/industrial firms remaining strong and nstitutional on the cusp of recovery. The US ABI for commercial and industrial is 53.3, industrial 50.7, and residential a high of 60.0.