Firm Billings Rebound in November

 

Architecture Billings Index, produced by the AIA Economics & Market Research Group, is a leading economic indicator that provides an approximately nine to 12 month glimpse into the future of nonresidential construction spending activity. The monthly ABI index scores are centered around 50, with scores above 50 indicating an aggregate increase in billings, and scores below 50 indicating a decline. The regional and sector data are formulated using a three-month moving average.
Courtesy of AIA

For only the second time since early 2008, architecture firms  saw monthly increase in billings. At 52, the AIA’s Architecture Billings Index (ABI) recorded a three point gain from the previous month, and reached its strongest level since December 2007. With ABI scores above the 50 level in two of the past three months, the prospects of a sustainable recovery in design activity are enhanced, according to Kermit Baker, Hon. AIA Chief Economist.

Getting projects started has been very slow. We have seen interest from the corporate sector, which has been quiet in the past months, according to a 17-person firm in the Midwest. With numerous firms chasing every project, margins for those you win will remain thin, according to a 8-person firm in the South.

– Courtesy of AIA