Slight Rebound for AIA Architecture Billings Index in January
After consecutive months of shrinking demand for design services, there was a modest uptick in the Architecture Billings Index (ABI) in January. 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 American Institute of Architects reported the January ABI score was 50.4, up from a mark of 48.5 in December. This score reflects an increase in design services (any score above 50 indicates an increase in billings). The new projects inquiry index was 58.5, down a bit from the reading of 59.2 the previous month.