Here is your industry update (provided by some of The American Institute of Architects’ (AIA) indexes):
The Architecture Billings Index (ABI) represents the nine to twelve month lead time between construction spending and architecture billings. A score above 50 means there has been an increase in billing. The ABI score went up from 53 in August to 55.2 in September. September was the fifth consecutive month of growth, which indicates that there has been a consistent increase in billings. An increase in ABI is significant industry news because it indicates that there is productivity ahead!
September was also the third month that all regions in the U.S. had improving ABI scores (with the midwest having the highest score). The construction of multi-family homes scored the highest ABI. Lastly, the AIA’s new projects inquiry shows an increase from August’s score of 62.6 to 64.8 in September.
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