In a recent press release, the American Institute of Architects reported that there is positive momentum for architecture billings, and that all sectors continue to show positive business conditions. These changes are measured by the Architecture Billings Index (ABI), which is a leading economic indicator of nonresidential construction spending activity. This index is obtained by surveying AIA member-owned firms directly; they are asked whether their billings increased, decreased or stayed the same in the prior month. Then the results are compiled into the ABI and changes can be measured and analyzed.
According to the AIA, “the March ABI score was 51.9, down from a mark of 54.9 in February. This score reflects an increase in demand for design services (any score above 50 indicates an increase in billings). The ABI has been reflecting a steady upturn in design activity, but perhaps most importantly, according to AIA Chief Economist, Kermit Baker, PhD, “business conditions in the construction industry have generally improving over the last several months