June’s Architecture Billings Index Portends Continued Construction Growth
July 21, 2016
In a report released this week, the American Institute of Architects reported that architecture firm billings increased in June for the fifth consecutive month.
The Architecture Billings Index (ABI), released monthly by the American Institute of Architects (AIA), reflected additional growth in expected construction, driven by the strongest demand for residential projects in two years, said AIA Chief Economist Kermit Baker.
The ABI reflects the approximate nine- to 12-month lead time between architecture billings and construction spending.
Although the June ABI reading of 52.6 was slightly lower than May’s, it still indicated an increase in design services (The index is calculated on a scale from 0-100. Scores above 50 suggest growth, while anything below implies negativity in the market.). All project types showed increasing levels of demand.