While it’s no longer sinking, the Architectural Billings Index, a leading economic indicator, barely moved between April (42.8) and May (42.9). However, the May inquiries score was 55.2, the third consecutive month it has landed in the mid-50s. (A score above 50 indicates an increase, and below 50, a decrease).
The current numbers were released today by the American Institute of Architects, which produces the ABI based on surveys sent to firms. The index reflects a nine- to 12-month lag time between architectural billings and construction spending.
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