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ABI shows slight decline

Posted by Concord
ABI shows slight decline

After several strong months, the Architectural Billings Index slipped slightly in August — it read 49.1, down from a mark of 54.7 in July.

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.

But the AIA’s chief economist downplayed the decline. “Over the past several years, a period of sustained growth in billings has been followed by a temporary step backwards,” said Kermit Baker. “The fact that project inquiries and new design contracts continue to grow at a healthy pace suggests that this should not be a cause for concern throughout the design and construction industry.”

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