The American Institute of Architects (AIA) Architecture Billings Index (ABI) reflected positive gains for the first time in five months. The August ABI is reported at 50.2, up from July’s 48.7 mark. Any score above 50 is considered positive.
“Until the economy is on firmer ground, there aren’t likely to be strong increases in demand for design services,” says AIA Chief Economist, Kermit Baker, PhD, Hon. AIA. “In the meantime, we can expect to see design activity alternate between modest growth and modest decline.”
By region, the South registered a 52.2 score and the West also comes in positive at 51.2. The Northeast and Midwest reflect scores of 45.5 and 45.3, respectively. By sector, the ABI for institutional work is 50.2, while commercial/industrial dips below positive to 47.9, as does mixed practice at 46.8. The project inquiries index continues itd rise to 57.2, up from 56.3 the previous month.
The ABI reflects the approximate nine to 12 month lag time between architecture billings and construction spending. To learn more visit aia.org.