Architectural Billings Index Shows Fifth Straight Increase
January 23, 2013
Architectural billings in December, 2012 increased for the fifth consecutive month — although they grew by less than they did in November, according to the Architectural Billings Index.
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.
“While it’s not an across-the-board recovery, we are hearing a much more positive outlook in terms of demand for design services,” said AIA Chief Economist Kermit Baker. “Moving into 2013 we are expecting this trend to continue and conditions improve at a slow and steady rate. That said, we remain concerned that continued uncertainty over the outcomes of budget sequestration and the debt ceiling could impact further economic growth.”
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