Non-residential design work still in big demand.The Architecture Billings Index (ABI Abi (ā`bī) [short for Abijah], in the Bible, King Hezekiah's mother. (Application Binary Interface) A specification for a specific hardware platform combined with the operating system. ), a leading economic indicator leading economic indicator An economic or a financial variable that tends to move ahead of and in the same direction as general economic activity. Compare lagging economic indicator. See also index of leading economic indicators. of construction activity, continues to reveal solid demand for nonresidential design activity. The American Institute of Architects The American Institute of Architects (AIA) is a professional organization for architects in the United States. Organized in 1857, the Institute conducts various activities and programs to support the profession and enhance its public image, including periodically awarding the AIA (AIA AIA - Application Integration Architecture ) reported the April ABI rating was 52.7 (any score above 50 indicates an increase in billings), nearly identical to the 52.6 mark in March. Inquiries for new objects shot up a full two points to 63.8, up from 61.8 the previous month. With an approximate nine to twelve month lag time between architecture billings and construction spending Construction Spending An economic indicator that measures the amount of spending towards new construction. Released monthly by the U.S. Department of Commerce's Census Bureau, it looks at residential and non-residential construction in the private sector, and state and federal at , and significant inquiry levels for new projects this news continues a forecast that remains favorable for the nonresidential construction market throughout 2007. "We have had positive conditions all five months of the year so far," said AIA chief economist Kermit Baker, PhD, Hon. AIA. "After starting off with very high numbers, the Index has leveled off lately with sustained, moderate expansion. Despite the favorable economic forecast, there is still concern about inflation in energy, raw materials and labor costs." |
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