Architecture Billings Index Sending Most Positive Signals in Over a Year
November 18, 2009
Amidst a continued high level of inquiries for possible new projects, the American Institute of Architects (AIA) reported that the Architecture Billings Index (ABI) reached its highest mark since August 2008, just before the serious credit problems emerged in our economy.
The AIA reported the October ABI rating was 46.1, up sharply from 43.1 in September. This score, however, still shows a continued decline in demand for design services. The new projects inquiry score was 58.5, following the 59.1 mark in September.
“This news could prove to be an early signal toward a recovery for the design and construction industry,” says AIA chief economist Kermit Baker, PhD, Hon. AIA. “On the other hand, because we continue to get reports of architecture firms struggling in a competitive marketplace with a continued decline in commercial property values, it is far too early to think we are out of the woods.”
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