Billing Index Continues to See Improvement

The Architecture Billing index, a leading indicator of the U.S. construction activity nine to 12 months into the future, demonstrated its strongest growth pace since December 2010.  In the month of October the ABI score was 52.8, up from the mark of 51.6 in September.  Any reading above 50 is said to indicate expansion, while any reading below 50 is said to indicate a decline in the demand for design services.  “With three straight monthly gains – and the past two being quite strong – it’s beginning to look like demand for design services has turned the corner,” said AIA Chief Economist, Kermit Baker, PhD, Hon. AIA. “With 2012 winding down on a high note, and with the national elections finally behind us, there is a general sense of optimism. However, this is balanced by a tremendous amount of anxiety and uncertainty in the marketplace, which likely means that we’ll have a few more bumps before we enter a full-blown expansion.” Click here to continue reading.