The American Institute of Architects (AIA) said Wednesday that the December Architecture Billings Index (ABI) score was 52, down from 53.2 in November, but still positive as 50 indicates an increase in billings. As a leading economic indicator of construction activity, the ABI reflects the approximate nine to 12month lag time between architecture billings and construction spending. The new projects inquiry index was 59.4, down slightly from the 59.6 mark of the previous month.
"While it's not an across the board recovery, we are hearing a much more positive outlook in terms of demand for design services," said AIA Chief Economist, Kermit Baker, PhD, Hon. AIA. "Moving into 2013 we are expecting this trend to continue and conditions improve at a slow and steady rate. That said, we remain concerned that continued uncertainty over the outcomes of budget sequestration and the debt ceiling could impact further economic growth."