Architecture Billings Index Up Sharply in May
Washington, DC, July 19, 2013 -- The Architecture Billings Index bounced back into positive territory in May, according to the American Institute of Architects.
The May reading was 52.9, up substantially from a mark of 48.6 in April.
The new projects inquiry index was 59.1, up slightly from the reading of 58.5 the previous month.
"This rebound is a good sign for the design and construction industry and hopefully means that April's negative dip was a blip rather than a sign of challenging times to come," said AIA Chief Economist Kermit Baker.
"But there is a resounding sense of uncertainty in the marketplace."