We are happy to share on the beginning of this working week that the Architecture Billings Index has moved into positive territory for the first time in five months! The drastic three-point leap has launched the ABI to 50.2, up from last month’s 48.4, and the new project inquiry index moved to 57.2, up from mark of 56.3. As we have reported previously, the ABI is our profession’s economic indicator and any score above 50 indicates an increase in billings. Regionally, the South leads with 52.2, followed by the West with 51.2, Northeast at 45.5, and Midwest at 45.3. In terms of architectural sectors, multi-family residential and institutional place above 50 while institutional, commercial/industrial, and mixed practice all remain above 46. “Until the economy is on firmer ground, there aren’t likely to be strong increases in demand for design services,” said AIA Chief Economist, Kermit Baker, PhD, Hon. AIA. “In the meantime, we can expect to see design activity alternate between modest growth and modest decline.”
We hope this positive score will let your Monday be a little bit merrier.
