Architecture Billings Index Recovers in October
|The Architecture Billings Index (ABI) rose 2.6 points to 51.7 in October. This marks the eighth reading above 50 in the last nine months, following a dip below this threshold in September.
Recovery in the West, Decline in the South
-
The West and Midwest regions reported ABI scores below 50, meaning less than half of firms reported increased billings. The index for the West, however, rose one point to 49.8 and so is improving after slipping below 50 last month.
-
The South reported the largest decline in October, with its ABI score falling 3.2 points to 50.8. This may reflect hurricanerelated disruptions in building activity.
All Sectors Decline on Three-Month Average Basis
-
The commercial/industrial, institutional, residential and mixed ABIs all declined on the month. Regional and sector indices are reported on a 3-month moving average basis, so the declines reflect trend weakening even if the headline ABI rose in October.
-
The ABI for each sector remained above 50, indicating most firms are still seeing increased billings. October's results are consistent with some moderation in construction spending growth.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.