The American Institute of Architects monthly Architecture Billings Index came in at 53.3, a 2.3 point increase from July's score of 51.0. 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.
"The ABI continues to be in expansion territory, which indicates that non-residential investments are still moving forward, albeit at lower levels seen at the beginning of the year," says Ali Wolf, the chief economist of ARCHITECT's parent company, Zonda. "Given the slowing trends in the broader economy, we are tracking to see how long this indicator remains above 50, the key level to track for market health.”Read More