AIA Billings Index climbs in October
“An increase in the billings index is always an encouraging sign,” said AIA Chief Economist Kermit Baker, PhD, Hon. AIA. “We’re seeing some regions and some construction sectors move into positive territory. But there continues to be a high level of volatility in the marketplace with architecture firms reporting a wide range of conditions from improving to uncertain to poor. It’s likely we will see a similar state of affairs in the coming months.”
Key October ABI highlights:
Regional averages: Northeast (51.7), South (49.1), Midwest (47.7), West (43.5); Sector index breakdown: commercial / industrial (53.5), multi-family residential (51.3); institutional (47.3), mixed practice (42.0); Project inquiries index: 57.3.