While it did not increase as inn the past two months, the October Architectural Billings Index showed continued growth in architectural billings.
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.
“Though it has been slow in emerging, we’re finally seeing some momentum develop in design activity for nonprofits and municipal governments, and as such we’re seeing a new round of activity in the institutional sector,” said AIA Chief Economist Kermit Baker. “It will be interesting to see if and how the results of the mid-term Congressional and gubernatorial elections impact this developing momentum.”
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