The Architecture Billings Index (ABI), an economic indicator of construction activity, climbed into positive terrain for the first time in five months. The ABI reflects the approximate nine-to-12-month lag time between architecture billings and construction spending.
The American Institute of Architects (AIA) reported the August ABI score was 50.2, up from the mark of 48.7 in July. This score reflects an increase in demand for design services (any score above 50 indicates an increase in billings). The new projects inquiry index was 57.2, up from mark of 56.3 the previous month.
Key August ABI highlights:
- Regional averages: , South (52.2), West (51.2), Northeast (45.5), Midwest (45.3)
- Sector index breakdown: multi-family residential (53.0), institutional (50.2) commercial/industrial (47.9), mixed practice (46.8)
- Project inquiries index: 57.2
The regional and sector categories are calculated as a three-month moving average, whereas the index and inquiries are monthly numbers.