ABI Two-Month Decline May Signal Uncertainty in Economic Outlook
October 19, 2016
The Architectural Billings Index has declined for a second straight month, dropping to 48.4 from August’s 49.7.
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.)
“This recent backslide should act as a warning signal,” said AIA Chief Economist Kermit Baker. “But this drop-off in demand could be continued hesitancy in the marketplace to move forward on projects until the presidential election is decided. The fact that new work coming into architecture continues to slowly increase suggests that billings will resume their growth in the coming months.”
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