Architecture Billings Index Slips, Overall Outlook Remains Positive
On the heels of six out of seven months of increasing levels of demand for design services, the Architecture Billings Index fell just below the positive mark. As a leading economic indicator of construction activity, the ABI reflects the approximate nine to 12 month lead time between architecture billings and construction spending. The American Institute of Architects reported the August ABI score was 49.7, down from the mark of 51.5 in the previous month. This score reflects a decrease in design services (any score above 50 indicates an increase in billings). The new projects inquiry index was 61.8, up sharply from a reading of 57.5 the previous month.