Good News: ABI Back In Positive Territory
March 23, 2017
The Architecture Billings Index (ABI) returned to positive territory in February, posting a score of 50.7 and showing a significant advance from January’s score of 49.5.
The ABI, compiled each month by the American Institute of Architects, reflects the approximate 9 to 12 month lead time between architecture billings and construction spending. It is considered a leading indicator of economic activity. Any score above 50 indicates an increase in billings.
Even better news was to be found in the new projects inquiry index, which came in at 61.5, up from 60.0 in January.
“The sluggish start to the year in architecture firm billings should give way to stronger design activity as the year progresses,” said AIA Chief Economist Kermit Baker, Hon. AIA, PhD. “New project inquiries have been very strong through the first two months of the year, and in February new design contracts at architecture firms posted their largest monthly gain in over two years.”