ABI Increases For Third Straight Month In April
The Architecture Billings Index (ABI) increased 5.2 percent in April, the third straight month of increases.
The American Institute of Architects (AIA) reported the April ABI rating was 48.5, up from a reading of 46.1 the previous month.
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.
Although this score reflects a continued decline in demand for design services (any score above 50 indicates an increase in billings), it is the highest score since January 2008 when revenue at architecture firms headed into recession. The new projects inquiry index was 59.6.
“It appears that the design and construction industry may be nearing an actual recovery phase,” said AIA Chief Economist Kermit Baker, PhD, Hon. AIA.
By region, the Northeast measured 51.0, the Midwest 49.2, the South 46.5 and the West 44.7.