Dive summary:
- The monthly Architecture Billings Index (ABI) is considered a predictor of what construction will bee over the next nine to 12 months, since structures have to be designed before they can be built, and the reading for June was a positive signal – albeit a modest one.
- The number that the American Institute of Architects derives from surveys of members indicates their business activity, and it is designed so that a composite number above 50 means higher billings overall and a numbet below that means contraction; June was 51.6
- There was a more dramatic increase in another number called the project inquiries index – it hit 62.6, up from May's 59.1 and is based on the same over-50-is-good scale.
From the article:
"With steady demand for design work in all major nonresidential building categories, the construction sector seems to be stabilizing,” said AIA Chief Economist, Kermit Baker, PhD, Hon. AIA. ...
With steady demand for design work in all major nonresidential building categories, the construction sector seems to be stabilizing,” said AIA Chief Economist, Kermit Baker, PhD, Hon. AIA - See more at: http://www.bdcnetwork.com/architecture-billings-index-dips-slightly-june-demand-design-services-remains-positive#sthash.Ywp3rlRY.dpuf
