ABI rebounds (September 2009)

The American Institute of Architects, Washington,D.C., reported that the July Architecture Billings Index was up almost six points. The July ABI rating of 43.1 was a noticeable uptick from 37.7 the previous month. This score, however, still indicates a decline in demand for design services (any score above 50 indicates an increase in billings). The new projects inquiry score fell to 50.3 from 53.8, but it was the fifth straight month with a score above 50. “It is always encouraging to see an uptick in our index, but there has been too much contraction in recent months to get overly optimistic about business conditions returning to levels they were at two months ago,” said AIA Chief Economist Kermit Baker, Ph.D., Hon. AIA. “In addition to a very competitive marketplace, architects continue to report that lendershave still not yet fully opened credit lines and that the stimulus funding has so far provided limited project activity for the design community overall.”
Key July ABI highlights:
• Regional averages: South 43.4, West 39.7, Northeast 37.8, Midwest 36.9
• Sector index breakdown: mixed practice 42.9, commercial/industrial 42.9, multi-family residential 40.7, institutional 37.1
• Project inquiries index: 50.3