Nick Bjork//September 21, 2011//
After four straight monthly declines, the American Institute of Architecture’s Architecture Billings Index took a sudden upturn in August.
According to today, the ABI 鈥 an economic indicator of future construction spending based on the billings of architecture firms 鈥 ended August with a score of 51.4. Any score over 50 means an increase in billings from a month previous, while anything below means a decrease.
The ABI has been below 50 for five months, with a lower score coming each consecutive month over the past four months. This culminated at the end of July when the AIA recorded a score of 45.1.
鈥淏ased on the poor economic conditions over the last several months, this turnaround in demand for design services is a surprise,鈥 said Kermit Baker, chief economist for the AIA, in a statement accompanying the data. 鈥淢any firms are still struggling, and continue to report that clients are having difficulty getting financing for viable projects, but it’s possible we’ve reached the bottom of the down cycle.鈥
Regionally, the Midwest recorded a score of 49, the Northeast a score of 46.5, and both the West and South had a score of 47.4.