Steel Markets
July 20, 2016
ABI Slips in June But Growth Trend Continues
Written by Sandy Williams
The Architecture Billings Index remained positive in June but slipped to 52.6 to 53.1, according to the latest survey by the American institute of Architects. The new projects inquiry index dropped to 58.6 from 60.1 the previous month. Any reading above 50 indicates a growth in design services.
“Demand for residential projects has surged this year, greatly exceeding the pace set in 2015. This suggests strong future growth for housing in the coming year,” said AIA Chief Economist, Kermit Baker, Hon. AIA, PhD. “While we expect to see momentum continue for the overall design and construction industry in the months ahead, the fact that the value of design contracts dipped into negative territory in June for the first time in more than two years is something of a concern.”
