US billings remain steady for second month
New projects inquiries rise sharply
US billings have remained buoyant for the second month in a row, suggesting April’s fall was a blip.
The American Institute of Architects’ Architecture Billings Index (ABI) showed a score of 51.6 in June. Any score above 50 indicates an increase in fees.
This was a slowdown on May’s score of 52.9. April’s score was 48.6, the first fall in 10 months.
“With steady demand for design work in all major non-residential building categories, the construction sector seems to be stabilising,” said AIA chief economist, Kermit Baker.
“Threats to a sustained recovery include construction costs and labour availability, inability to access financing for real estate projects, and possible adverse effects in the coming months from sequestration and the looming federal debt ceiling debate.”
The new projects inquiry index was 62.6, up sharply from the reading of 59.1 the previous month.