Following the first positive score in four months, the Architecture Billings Index (ABI) reversed direction again in September. As a leading economic indicator of construction activity, the ABI reflects the approximate nine to twelve month lag time between architecture billings and construction spending. The American Institute of Architects (AIA) reported the September ABI score was 46.9, following a score of 51.4 in August. — aia.org
This score reflects a sharp decrease in demand for design services (any score above 50 indicates an increase in billings). The new projects inquiry index was 54.3, down from a reading of 56.9 the previous month.
5 Comments
Seeing this to CONTOURS series makes a lot of sense.
Maybe it'd just save time to publish ONLY when the ABI goes up.
The ABI is always calculated relative to the prior month, so a constant score other than 50 means constant (i.e. non-varying) change, not no change. So an increasing score would mean an increasing rate of increase in work (i.e. exponential increase in work). It's basically the derivative of how much work there is over time. So even though the Inquiries score dropped, it still represents an increase in inquiries since it's higher than 50. Isn't calculus fun?
Billings did drop, though. So that sucks.
@PVBeeber - nice calculus explanation
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