In May the Architectural Billings Index hit 53.1, a considerable rise from April’s score of 50.6 — its highest level in the past 12 months.
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.)
“Demand levels are solid across the board for all project types at the moment,” said AIA Chief Economist Kermit Baker. “Of particular note, the recent surge in design activity for institutional projects could be a harbinger of a new round of growth in the broader construction industry in the months ahead.”
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