AIA Billings Index Gaining Momentum

The Architecture Billings Index (ABI) was released on Wednesday morning showing an overall improvement in construction industry. The ABI score for June was 53.5, up from 52.6 in May. Note that the index is centered around 50, with scores above 50 indicating an aggregate increase in billings, and scores below 50 indicating a decline.

“The recent surge in both design contracts and general inquiries for new projects by prospective clients is indicative of a sustainable strengthening across the construction marketplace,” said AIA Chief Economist Kermit Baker, Hon. AIA, PhD. “With the first positive reading since last summer in billings at institutional firms, it appears that design activity for all major segments of the building industry is growing. The challenge now for architecture firms seems to be finding the right balance for staffing needs to meet increasing demand.”