The AIA’s monthly index reported growth for the fifth-straight month, with several of the sub-indexes reaching record highs.
By Hanley Wood Data Studio
The AIA’s monthly Architecture Billing Index reported a score of 52.6 for June, the fifth straight month that the index has remained positive, the Institute announced today. This mark is modestly lower than the 10-month high of 53.1 in May, but is still among the highest scores seen in the past year. The ABI is a leading economic indicator of construction activity in the U.S. reflecting the 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 (a score under 50 represents a contraction).
“Demand for residential projects has surged this year, greatly exceeding the pace set in 2015. This suggests strong future growth for housing in the coming year,” AIA chief economist Kermit Baker, Hon. AIA, said in a press release.
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