Architectural billings - money spent on designing new projects - posted the strongest gains since November 2007 across the country, according to the latest data from the American Institute of Architects (AIA).
Because the index tracks how much money is being spent by companies considering new residential and commercial projects, the recent increase bodes well for the future of the construction industry. The AIA says that the index reflects a roughly nine- to 12-month lag time between architecture billings and construction spending.
The January ABI score was 54.2 compared with 51.2 in December; the new projects inquiry index was 63 compared with 57.9 the previous month. The strongest ABI measures were recorded in the midwest.
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