Slight Contraction for Architecture Billings Index

The American Institute of Architects (AIA) reported the results of their analysis of member companies demand for design services. The resulting Architecture Billings Index (ABI) is one of the most watched indices associated with residential and commercial construction by the steel community. A tremendous amount of flat rolled steel as well as long products are used during the construction of houses, apartments, industrial and commercial buildings. The AIA reported a slight slowdown in design services in their press release which is below:

After six months of steadily increasing demand for design services, the Architecture Billings Index (ABI) paused in November. 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 (AIA) reported the November ABI score was 49.8, down from a mark of 51.6 in October. This score reflects a slight decrease in design services (any score above 50 indicates an increase in billings). The new projects inquiry index was 57.8, down from the reading of 61.5 the previous month.