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The American Institute of Architects’ ABI Index – a leading economic indicator of non-residential construction activity 9-12 months into the future – posted a reading above 50 for the fourth consecutive month in February, coming in at 51.0, slightly above January’s 50.9 (any reading higher than 50 means the number of architects reporting “rising billings” outpaced the number reporting “declining billings”).

The new project inquiry index rose 2.2 points to 63.4, the highest level since July 2007 and the fourth successive reading above 60, the first time this has happened in four and a half years.

Our full report is available to subscribers and provides further thoughts on the February ABI Index as well as the impact on steel equities.

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