ABI inches back into positive territory
On the heels of a nearly three-point increase, the Architecture Billings Index climbed into positive terrain for the first time in five months this August. The American Institute of Architects reported the August ABI score was 50.2, up from the mark of 48.7 in July.
“Until the economy is on firmer ground, there aren’t likely to be strong increases in demand for design services,” said AIA Chief Economist Kermit Baker, in a Sept. 19 release. “In the meantime, we can expect to see design activity alternate between modest growth and modest decline.”
The Southern region garnered the highest score at 52.2, followed by the West at 51.2, Northeast at 45.5 and Midwest at 45.3. Multi-family residential projects had a score of 53.0; institutional, 50.2; commercial / industrial, 47.9; and mixed practice, 46.8.