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A Surge in Architecture Billings in May
Caroline Massie / Architect / June 18, 2014
The design industry snapped out of a two-month decline with a three-point jump in the AIA’s Architecture Billings Index (ABI) last month. The AIA reported the May ABI score was 52.6, up considerably from April’s score of 49.6. (An index score above 50 indicates growth, whereas a score below 50 indicates contraction.)
The score for the new projects inquiries has been steadily increasing for the past four months. May’s value was 63.2, up from 59.1 in April. The numbers in this category have been in positive territory (over the 50-point line) since February 2009.
The score for design contracts in May was 52.5, a decrease from April’s 54.6, but still reflecting growth in the category. The AIA debuted this economic indicator in the March report to more accurately evaluate future growth within the industry. After rock-steady positive scores in 2013 for this new segment, this index has been fairly unpredictable since the beginning of 2014, with values rising above and falling below the 50-point line nearly every other month.