Rise in new projects helps boost US ABI for third consecutive month

Thursday, 22 November 2012 00:22:03 (GMT+3)   |   San Diego
       

The American Institute of Architects (AIA) reported Wednesday that the October Architecture Billings Index (ABI) score was 52.8, up from the mark of 51.6 in September. This score reflects an increase in demand for design services (any score above 50 indicates an increase in billings). The new projects inquiry index was 59.4, compared to a mark of 57.3 the previous month. Billings at architecture firms accelerated to their strongest pace of growth since December 2010. 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.

"With three straight monthly gains - and the past two being quite strong - it's beginning to look like demand for design services has turned the corner," said AIA Chief Economist, Kermit Baker, PhD, Hon. AIA. "With 2012 winding down on an upnote, and with the national elections finally behind us, there is a general sense of optimism. However, this is balanced by a tremendous amount of anxiety and uncertainty in the marketplace, which likely means that we'll have a few more bumps before we enter a full-blown expansion."


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