The American Institute of Architects released its latest report this morning, marking the eighth consecutive month of increasing architecture billings as a sign of continued economic recovery for the industry. The Architecture Billings Index (ABI) score for September was 56.6, a one-point expansion from August's score of 55.6.
The indices for new project inquiries and design contracts contracted slightly in September but remained in positive territory, reporting scores of 61.8 and 54.7 respectively.
"The ABI scores over the last eight months continue to be among the highest ever seen in the immediate post-recession periods that have been captured throughout the index’s history," said AIA Chief Economist, Kermit Baker, Hon. AIA, PhD. "However, it’s unlikely that revenue increases at architecture firms can sustain this pace. Given that growth in both new design contracts and project inquiries have moderated in recent months, we expect to see a similar path for the ABI."
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