The Architecture Billings Index (ABI), a leading economic indicator of construction activity produced by the AIA Economics & Market Research Group, climbed into positive terrain for the first time in five months. The August ABI score was 50.2, up from the mark of 48.7 in July. This score reflects an increase in demand for design services (any score above 50 indicates an increase in billings). The new projects inquiry index was 57.2, up from mark of 56.3 the previous month.
"Until the economy is on firmer ground, there aren't likely to be strong increases in demand for design services," commented 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."
Key August ABI Highlights
Regional averages: , South (52.2), West (51.2), Northeast (45.5), Midwest (45.3)
Sector index breakdown: multi-family residential (53.0), institutional (50.2) commercial / industrial (47.9), mixed practice (46.8)
Project inquiries index: 57.2