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Architecture Billings Index Continues Growth for Third Straight Month

Post Time:Nov 22,2012Classify:Industry NewsView:295

Results for billings at architecture firms in October displayed the quickest pace of positive growth since December 2010, according to the latest American Institute of Architects’ Architecture Billings Index (ABI).  The ABI score for October was 52.8, an increase from 51.6 in September. Company officials state the score rise is a result of an increased demand for design services. The new projects inquiry index was 59.4, compared to a mark of 57.3 in September. The report also recorded the sector index breakdown for multi-family residential was 59.6, mixed practice came to 52.4, while institutional was 51.4 and commercial / industrial totaled 48.0. Regional average results for October noted the South at 52.8, Northeast at 52.6, West at 51.8, and Midwest at 50.8. 

“With three straight monthly gains – and the past two being quite strong – it’s beginning to look like demand for design services has turned the corner,” said AIA chief economist, Kermit Baker, PhD, Hon. AIA. “With 2012 winding down on an up-note, and with the national elections finally behind us, there is a general sense of optimism. However, this is balanced by a tremendous amount of anxiety and uncertainty in the marketplace, which likely means that we’ll have a few more bumps before we enter a full-blown expansion.”

Source: www.usgnn.comAuthor: shangyi

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