Economy
November 19, 2014
ABI Dips, But Growth in Construction Continues
Written by Sandy Williams
The latest Architecture Billings Index (ABI) slipped to 53.7 in October from 55.2 in September but shows continued strength in multi-family residential construction as well as growth for institutional construction projects. Demand for architectural design services was highest in the South and contracted sharply in the Northeast. The new projects inquiry index was 62.7, following a score of 64.8 the previous month.
The ABI, produced by the American Institute of Architects, reflects the nine to twelve month lead time between architecture billings and construction spending, with any score above 50 indicating growth.
