Architecture billings reached its first positive mark since August, reports the American Institute of Architects. The index for architecture billings was 52 in November, up 2.6 points from the previous month. (Any score above 50 indicates an increase in billings). The new projects inquiry index was 65 last month, up from 57.3 in October. “The design and construction industry only a few years ago accounted for nearly 10% of overall GDP but has since fallen to slightly less than 6%,” said AIA Chief Economist Kermit Baker. “Hopefully, this uptick in billings is a sign that a recovery phase is in the works. However, given the volatility that we’ve seen nationally and internationally recently, we’ll need to see several more months of positive readings before we’ll have much confidence that the U.S. construction recession is ending.”Architecture Billings Positive for First Time in 4 Months
Architecture billings reached its first positive mark since August, reports the American Institute of Architects. The index for architecture billings was 52 in November, up 2.6 points from the previous month. (Any score above 50 indicates an increase in billings). The new projects inquiry index was 65 last month, up from 57.3 in October. “The design and construction industry only a few years ago accounted for nearly 10% of overall GDP but has since fallen to slightly less than 6%,” said AIA Chief Economist Kermit Baker. “Hopefully, this uptick in billings is a sign that a recovery phase is in the works. However, given the volatility that we’ve seen nationally and internationally recently, we’ll need to see several more months of positive readings before we’ll have much confidence that the U.S. construction recession is ending.”
