The AIA’s monthly billings index declined last month, but design contracts and project inquiries improve.
The AIA’s monthly Architecture Billings Index (ABI) closed the month of August with a score of 49.7, down from the 51.5 reported in July, the Institute announced today. The result, just below the 50-point threshold separating growth in the market and contraction, put an end to a seven-month growth streak that began in February. The ABI is a leading economic indicator of construction activity in the U.S., and reflects a nine- to 12-month lead time between architecture billings and construction spending nationally and regionally as well as by project type. A score above 50 represents an increase in billings from the previous month, while a score under 50, like this month, represents a contraction.
Read the Full Story HERE >>>> Source: Architect Magazine Architectural Billings Cool Off in August, but Outlook Remains Positive