Architecture Billings Index Shows Continued Growth for Design Industry
"September’s Architecture Billings Index (ABI) released today by the AIA reports another month of increased design activity," reports Caroline Massie. The September ABI is the fifth consecutive report that indicates growth in design work, considered an indicator for the construction industry.
AIA chief economist Kermit Baker is quoted in the story explaining which sectors are responsible for the growth: "Strong demand for apartment buildings and condominiums has been one of the main drivers in helping to keep the design and construction market afloat in recent years….There continues to be a healthy market for those types of design projects, but the recently resurgent Institutional sector is leading to broader growth for the entire construction industry."
The article goes on to break down billings by region and by sector (one sector conspicuously absent from the billings breakdown: single family homes, custom or subdivision).