A slight improvement in business conditions has led to fewer architecture firms reporting declining billings, according to a new report from The American Institute of Architects (AIA).
AIA’s monthly Architecture Billings Index improved slightly in January, with a value of 44.9, as compared to a revised value of 42.3 in December. The ABI is a leading economic indicator of construction activity in the U.S. and reflects a nine- to 12-month lead time between architecture billings and construction spending nationally, regionally, and by project type. A score above 50 represents an increase in billings from the previous month, while a score below 50 represents a contraction. Each January, the AIA research department updates the seasonal factors used to calculate the ABI, resulting in a revision of recent ABI values.