ABI Jumps Up in May

American Institute of Architects
June 27, 2016

The Architecture Billings Index jumped to its highest score in nearly a year in May, according to the American Institute of Architects. The association says the active multifamily housing market and sustained solid levels of demand for new commercial and retail properties spurred the growth. The AIA reported the May ABI score was 53.1, up sharply from the mark of 50.6 in the previous month. The new projects inquiry index was 60.1, up from a reading of 56.9 the previous month.

“Business conditions at design firms have hovered around the break-even rate for the better part of this year,” said AIA Chief Economist, Kermit Baker, Hon. AIA, PhD.  “Demand levels are solid across the board for all project types at the moment.  Of particular note, the recent surge in design activity for institutional projects could be a harbinger of a new round of growth in the broader construction industry in the months ahead.”