ABI is Back in Positive Territory
The AIA reports that the Architectural Billings Index rose 50.2 in August, the first time it has landed in positive territory since March (a number below 50 denotes a decrease in billings). The inquiries index continues to rise, up nearly a point in August (57.2). Sector indices were: residential, 53; commercial/industrial, 47.9; institutional, 50.2; mixed, 46.8. “Until the economy is on firmer ground, there aren’t likely to be strong increases in demand for design services,” said AIA Chief Economist Kermit Baker in a press release. “In the meantime, we can expect to see design activity alternate between modest growth and modest decline.”