ABI for August

The Architecture Billings Index rose 0.8 to 47.6 in August, according to the American Institute of Architects, Washington, D.C. A reading below 50 indicates a decline in billings, a leading indicator of construction activity about nine to 12 months in the future. The inquiries for new projects score was 52.4. There is, however, continued demand for projects such as schools, hospitals and government buildings; the institutional category of the ABI has been positive since 2004. The strongest billings were recorded in the Midwest with a reading of 49.4, and the South was the weakest region at 45.