Although the October Architectural Billings Index is down slightly, at 53.1 compared to September’s 53.7, it remains in positive territory and suggests that construction remains on firm footing.
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.)
“Allowing for the possibility of occasional and minor backsliding, we expect healthy business conditions for the design and construction industry to persist moving into next year,” said AIA Chief Economist Kermit Baker.
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