Architectural Billings Index Up Sharply in August

The Architectural Billings Index (ABI) took a surprising sudden upturn in August.  As a leading economic indicator of construction activity, the ABI reflects the approximate nine to twelve month lag time between architectural billings and construction spending.  The American Institute of Architects (AIA) reported the August ABI score was 51.4, following a very weak score of 45.1 in July.  This score indicates 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.