Following two negative months, the Architectural Billings Index rose in October, up to 50.8 from 48.4 in September.
The August-September decline was the first negative two-month span since 2012.
Compiled by the American Institute of Architects, the ABI is a leading economic indicator for construction: It takes approximately nine months to a year between architecture billings and construction spending. (Any score above 50 indicates an increase in billings.)
“There was a collective sense of uncertainty throughout the design and construction industry leading up to the presidential election,” said AIA Chief Economist Kermit Baker. “Hopefully we’ll get a sense of what direction we will be headed once we get a clearer read on how the new administration’s policies might impact the overall economy as well as the construction industry.”
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