AIA Billings Index Still Showing Growth
Washington, DC, July 24, 2013 -- The Architecture Billings Index remained positive again in June after the first decline in ten months in April
As a leading economic indicator of construction activity, the ABI reflects the approximate 9-12 month lag time between architecture billings and construction spending.
The American Institute of Architects reported the June ABI score was 51.6, down from a mark of 52.9 in May.
The new projects inquiry index was 62.6, up sharply from the reading of 59.1 the previous month.
“With steady demand for design work in all major nonresidential building categories, the construction sector seems to be stabilizing,” said AIA Chief Economist Kermit Baker.
“Threats to a sustained recovery include construction costs and labor availability, inability to access financing for real estate projects, and possible adverse effects in the coming months from sequestration and the looming federal debt ceiling debate.”