Over the past few months, we’ve been keeping you up to date on the latest reportings of the Architecture Billings Index as our profession, among others, seems to be stuck in a frustrating cycle of huge drops and struggling gains. As Jeff Byles reported for the Architect’s Newspaper, the Billings Index slowly climbed upward from 47.9 in July to 48.2 in August. Although this does mark some progress, we still are not where we would all like to be as a profession. Yet, could this finally be the end of the decline? Are we on the path toward recovery? We are certainly optimistic, even if the Billings continue to slowly inch upward. Kermit Baker, the chief economist for the AIA told the AN, “I expect it to continue to move up, but move up fairly slowly in the months ahead…We’ve had a pretty strong year of business investment on the software and equipment side, and that usually leads to a recovery on the building side. We’re in the early stages of that.”
More about the Billings Index after the break.
Across the US, the Northeast saw an increase in manufacturing activity, and the numbers for the Midwest and West also rose slightly. However, the South was hit considerably hard, dropping to 45.3 after a 5-month growth trend.
Wherever you’re located, you have our support during these times. Keep positive, keep designing, and keep patient – we’ll see more progress soon.