Architecture Billings Index Improves at a Healthy Pace
With increasing demand for design services, the Architecture Billings Index is continuing to strengthen. As a leading economic indicator of construction activity, the ABI reflects the approximate nine- to 12-month lag time between architecture billings and construction spending. The American Institute of Architects reported the February ABI score was 54.9, up slightly from a mark of 54.2 in January.
This score reflects a strong increase in demand for design services (any score above 50 indicates an increase in billings). The new projects inquiry index was 64.8, higher than the reading of 63.2 the previous month – and its highest mark since January 2007.