Architecture Billings Index Shows Robust Conditions Ahead for Construction Industry
With all geographic regions and building project sectors showing positive conditions, there continues to be a heightened level of demand for design services, as signaled in the latest Architecture Billings Index (ABI). 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 September ABI score was 55.2, up from a mark of 53.0 in August. This score reflects an increase in design activity (any score above 50 indicates an increase in billings). The new projects inquiry index was 64.8, following a mark of 62.6 the previous month.