The American Institute of Architects reported Wednesday that its Architecture Billings Index (ABI) held a score of 50.9 in January. The score indicates an overall increase in demand for design services, with any score over 50 indicating an increase in billing. The new projects inquiry index was61.2 in January, slightly down from 61.5 in December.
"Even though we had a similar upturn in design billings in late 2010 and early 2011, this recent showing is encouraging because it is being reflected across most regions of the country and across the major construction sectors," said AIA Chief Economist Kermit Baker. "But because we still continue to hear about struggling firms and some continued uncertainty in the market, we expect overall economic improvements in the design and construction sector to be modest in the coming months."
The ABI reflects the approximate nine to 12month lag time between architecture billings and construction spending and is used as a strong economic indicator.