U.S. Architecture Billings Remain Highest Since 2007

The leading indicator of nonresidential construction activity, the U.S. architecture billings released by the American Institute of Architects, was up more than 2 points in December, taking the reading from 52.0 to 54.2. Any reading over 50 is said to indicate expansion 9 to 12 months in the future. In addition, a separate index of new project inquiries is also on the rise, indicating increased industry demand. AIA Chief Economist Kermit Baker reports that this is promising news and a strong signal that the industry is continuing to move towards recovery. To read the entire article, click here.