The Architecture Billings Index (ABI) reversed its recent trend and a took a sudden upturn in August the American Institute of Architects reported today. After dipping as low as 45.1 in July, the Architecture Billings Index surged back to 51.4 in August. The index is a leading economic indicator of construction activity, the ABI reflects the approximate nine to twelve month lag time between architecture billings and construction spending. This score reflects an increase in demand for design services (any score above 50 indicates an increase in billings). The new projects inquiry index was 56.9, up sharply from a reading of 53.7 the previous month.
Chart courtesy of Calculated Risk