US billings rise for fourth month in a row
‘Strongest business conditions since the collapse’
The American Institute of Architects (AIA) has reported growth in billings for the fourth month in a row.
The AIA reported the November Architecture Billings Index (ABI) score as 53.2, up from the mark of 52.8 in October.
This score reflects an increase in demand for design services since any score above 50 indicates an increase in billings.
The new projects inquiry index was 59.6, up slightly from 59.4 the previous month.
“These are the strongest business conditions we have seen since the end of 2007 before the construction market collapse,” said AIA chief economist, Kermit Baker.
“The real question now is if the federal budget situation gets cleared up which will likely lead to the green lighting of numerous projects currently on hold.
“If we do end up going off the ‘fiscal cliff’ then we can expect a significant setback for the entire design and construction industry.”