The Architecture Billings Index (ABI) rose 2.2 points to 55.2 in September, marking the fifth-straight month of growth in design activity. The institutional sector showed the largest gain during the month.
Billings Suggest Continued Construction Growth
- Billings by U.S. architecture firms continue to herald further improvement in construction activity in the coming months. ABI, which leads construction spending by about one year, posted a reading of 55.2 in September, up from 53 in August.
- Regional billings in the Midwest jumped more than 4 points to 55.1 in September, while activity in the Northeast fell 7.1 points to 51. Gains were also seen in the South and West.
Institutional Billings Gain Momentum
- According to the AIA, improvement in apartment and condo demand has been a main driver in design and construction activity. However, the institutional sector is also beginning to perk up. Institutional billings (healthcare, education, religious, amusement and recreation) reached its highest reading in more than seven years at 54.9. On the other hand, the commercial and industrial sector is barely in expansion territory at 50.8.
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