Architecture billings show a positive uptick
After two consecutive months of decline, the Architecture Billings Index (ABI) has rebounded and is up just over two points compared to its previous mark, according to the American Institute of Architects, which sees the report as an encouraging sign for the construction industry.
The index is a leading economic indicator of construction activity, providing a glimpse into the future of nonresidential construction activity. The typical lag time between architecture billings and construction spending is nine to twelve months.
Regionally, billings growth continued to slow at firms in the Northeast and South. Business conditions fell for two consecutive months in the West for the first time in nearly three years, but billings growth has picked up slightly in the Midwest, continuing to rebound from a late summer slowdown.”
Source: Building Design+Construction
