U.S. Architectural Billings Rise in October
The Architecture Billings Index (ABI) in October increased 0.5 points to 47.5, according to The American Institute of Architects (AIA) Economics & Market Research Group. Design contracts rose into positive territory for the first time since February, gaining 2.8 points from September to 51.7. Inquiries were also at the highest point in nearly a year.
October billings increased in all regions, with the West charting into positive territory for the first time in nine months. Firms specializing in multi-family residential continued to increase, reaching the highest levels in two years at 55.1, while other specialties remained below 50 indicating a decline in billings. See AIA