Architecture Billings Index Shows Continued
April 22, 2010
On the heels of a more than two point gain in February, the Architecture
Billings Index (ABI) was up again in March. The American Institute
of Architects (AIA) reported the March ABI rating was 46.1, up from
a reading of 44.8 the previous month. Though this score reflects
a continued decline in demand for design services (any score above
50 indicates an increase in billings), it is the highest score since
August 2008. The new projects inquiry index was 58.5.
"This is certainly an encouraging sign that we could be moving
closer to a recovery phase, even though we continue to hear about
mixed conditions across the country," says AIA chief economist
Kermit Baker, PhD, Hon. AIA. "Firms are still reporting an
unusual amount of variation in the level of demand for design services,
from improving to poor to virtually non-existent. This increasing
volatility is often a sign that overall business conditions may
begin to change in the coming months."
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