Architecture Billings Grow Again in August
Washington, DC, Sept. 19, 2013 -- The Architecture Billings Index showed more acceleration in the growth of design activity nationally in August, according to the American Institute of Architects.
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As a leading economic indicator of construction activity, the ABI reflects the approximate nine to 12 month lead time between architecture billings and construction spending.
The index score was 53.8, up from a mark of 52.7 in July. Any score above 50 indicates an increase in billings.
The new projects inquiry index was 63.0, down from the reading of 66.4 the previous month.
“As business conditions at architecture firms have improved 11 out of the past 12 months, it is fair to say that the design professions are in a recovery mode,” said AIA Chief Economist Kermit Baker.
“This upturn signals an impending turnaround in nonresidential construction activity, but a key component to maintaining this momentum is the ability of businesses to obtain financing for real estate projects, and for a resolution to the federal government budget and debt ceiling impasse.”