October architectural billings edge back up, inquiries slow

November 20, 2007
COMMERCIAL : TRENDS & ANALYSIS
Architectural billings rebounded slightly in October, according to a Nov. 16 release from the American Institute of Architects, Washington, D.C. The Architectural Billings Index suffered a steep downturn from July to September, falling from 60 to 51.1. In October, the ABI edged up slightly to 53.2, according to the release.

Billings still increase slightly, because any score above 50 indicates growth, but at a much slower rate than earlier in the year, according to the release.

Regional billings showed continued slowed growth in the North and South during October, both scoring 52. The West ABI dropped to 48, showing declines in billings. The Midwest, which showed slowing billings during the summer, rebounded to 53.

The commercial and industrial sector led growth for the month, with an ABI of 55. The Industrial sector reached 53, mixed-use billings 52 and residential 47.

Growth in inquiries for new work fell to the lowest level in a year and a half, reaching 58.1, down from a high of more than 66 in January.

Read the full AIA release here.