As we shared in September, the Architecture Billings Index (ABI) reported an ever so slight increase with the index shifting from 47.9 to 48.2 in August. Now, the index shows a 52.0 – a 3 point increase from last month. This is great news for our profession as this billings marks the strongest point we’ve reached since December of 2007. As the New Year approaches, we’re hoping that this trend can steadily climb higher and bring prosperity for 2011; especially since firms across the country – from the Northeast to the West – reported increases. However, the New Year will bring mixed feelings to firms as Kermit Baker, Hon. AIA, AIA Chief Economist stated in his report of the ABI. “Both residential and commercial/industrial firms are more optimistic about business conditions over the coming year. Half of the firms in each group are expecting revenue increases in 2011…In contrast, almost half of institutional firms are expecting revenue declines over the coming year, with only 38 percent expecting growth,” stated Baker.
More information about the recent ABI after the break.
