ABI Gains Momentum
July 23, 2014
Architectural spending increased significantly in June, reaching its highest level in a calendar year, according to the Architectural Billings Index.
All sectors — and every region except the West — showed increases.
“The recent surge in both design contracts and general inquiries for new projects by prospective clients is indicative of a sustainable strengthening across the construction marketplace,” said AIA Chief Economist Kermit Baker, Hon. AIA, PhD. “With the first positive reading since last summer in billings at institutional firms, it appears that design activity for all major segments of the building industry is growing.”
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.
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