AIA Billings Index Indicates Steady Growth
According to the American Institute of Architects' (AIA) Architecture
Billings Index (ABI), the demand for non-residential construction
activity continues to be steady. Registering a nearly identical
mark to the March rating, April came in at 52.7. Additionally, there
was a two-point jump in the number of inquiries for April, raising
the rating to 63.8.
According to the AIA, any ABI rating above 50 represents an increase
"We have had positive conditions all five months of the year
so far," said AIA chief economist Kermit Baker, PhD, Hon. AIA.
"After starting off with very high numbers, the Index has leveled
off lately with sustained, moderate expansion. Despite the favorable
economic forecast, there is still concern about inflation in energy,
raw materials and labor costs."
The ABI is a monthly rating system generated by the AIA Economics
and Market Research Group. ItI uses a "work-on-the-boards"
survey and compares that to data compiled since the survey's inception
in 1995, with figures from the Department of Commerce on Construction
Put in Place. According to the AIA, the resulting ABI may be used
to provide a nine to 12 month forecast of non-residential construction
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