While architectural billings failed to show much progress during October, signs of improving business conditions at firms have emerged, according to a new report from the American Institute of Architects (AIA).
The results of two surveys—the American Society of Landscape Architects (ASLA) Business Quarterly survey and the American Institute of Architects (AIA) Architecture Billings Index (ABI)—suggest the building industry could be facing a decline.
The American Institute of Architects (AIA) reported the Architecture Billing Index (ABI) is reflecting a sustained demand for design services in nearly all non-residential project types. ABI is a leading economic indicator of construction activity. It reflects the approximate nine-to 12-month lead time between architecture billings and construction spending.