Architectural Billings Index Highest in Almost a Year
Generally viewed as a leading indicator for construction, the U.S. Architectural Billings Index reached its highest level in almost a year, reports The Architects Newspaper. After a rough start to the year, now steered by the multi-family housing market, billings are supported by steady demand from commercial and retail property sectors.
You can find the article here. The index reflects a nine to 12 month lead time before investing in actual construction. The May index hit 53.1, up from a low of 49 earlier in the year.
According to AIA chief economist Kermit Baker; “Demand levels are solid across the board for all project types at the moment," adding that a surge in institutional project designs could mean broader construction industry growth to come.
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