Architecture firm billings growth softened in October but remained positive for the 13th consecutive month, according to the American Institute of Architects (AIA).
The AIA’s Architecture Billings Index (ABI) score for October was 50.4 compared to 51.1 in September. With continued strength in new project inquiries, billings are expected to remain steady into the coming months.
The Architecture Billings Index (ABI) is a leading economic indicator of demand for non-residential construction activity. This includes both commercial and industrial building. A positive ABI can be a sign of strength or recovery in the broader economy, while a negative ABI can signal weakness or a coming downturn.