Economy
November 17, 2016
ABI Rebounds in October
Written by Sandy Williams
The Architecture Billings Index rebounded modestly in October, registering 50.8 after dipping below the neutral point in September and August. Fewer firms, however, reported an increase in new inquiries or in value of design contracts signed during the month. Both inquiries and design contract indexes fell for the second month in a row with the design contract index falling to 48.7 from 51.4 and inquiries down nearly five points.
Business conditions for architectural firms softened at firms in all regions except the South, reports the American Institute of Architects. Commercial, industrial and institutional planning saw modest slowdowns with only architectural firms specializing in residential building reporting better conditions.
