Following the first negative downturn in ten months (what AIA Chief Economist, Kermit Baker, Phd, is hoping was just a "blip"), May's Architecture Billing Index (ABI) has bounced back from a score of 48.6 to 52.9. Any score above 50 indicates an increase in billings (aka an expansion in demand for architects' services).
Baker notes that "there is [still] a resounding sense of uncertainty in the marketplace from clients to investors and an overall lack of confidence in the general economy – that is continuing to act as a governor on the business development engine for architecture firms.” However, the scores, which revealed the most growth in the Northeast as well as in the multi-family residential and institutional sectors, are good signs for the design and construction industries.
More results of this month's ABI, after the break...
Key May ABI Highlights include:
Story via the AIA