STEEL FRAMING ALLIANCE | FRAMEWORK ONLINE
  September 1, 2010
MARKETPLACE
 
American Billings Index Bounces Back

After a two-month decline that fuelled fears of a double dip recession, the American Institute of Architects’ billings index has leapt up by two points.

The index, which measures architecture billings from the institute’s member practices with any score under 50 representing a decline in billings, took a sharp dip in May and failed to recover in June when the score sat at 46. But it has now risen to 47.9.

Although this still represents a decline in billings, analysts hope that the improvement might suggest that the profession is inching towards recovery.

However the index for new project inquiries dropped substantially from 57.7 to 53.1 and the AIA warned that the economic conditions for architects were still “volatile”.

AIA chief economist Kermit Baker said: “While this recent uptick is encouraging, this state of the industry is likely to persist for a while as we continue to receive a mixed bag of feedback on the condition of the design market from improving to flat to being paralyzed by uncertainty.”

The index is seen as an indicator of the future health of the wider construction industry with a nine to 12-month lag between architectural billings and construction spend.

Source: Building Design, August 19, 2010

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