Architecture Billings Index Surges Higher

The Architecture Billings Index (ABI) increased yet again for September, reaching its second highest level in 2013, just behind February. As a leading economic indicator of construction activity, the ABI reflects the approximate nine to twelve month lead time between architecture billings and construction spending. The American Institute of Architects reported on Wednesday that the September ABI score was 54.3, up from 53.8 in August, and up from 52.7 in July. Note that any score above 50 indicates an increase in billings. The new projects inquiry index was 58.6, down from 63.0 in the previous month, and down from the July reading of 66.7.

On a 3MMA basis, project billings were at a 6 month high in September at 53.6, a month over month increase for the 3^rd month in a row. Project inquiries were recorded at 62.8, down from the month before but even with July numbers.