Numbers bring good news.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 nonresidential construction activity, showed more modest growth in September following a surge in the August figures. Demand for commercial / industrial projects and institutional projects continue to set the pace for the sustained positive conditions. Based on the 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 , the recent growth in billings points to a healthy future in the nonresidential construction market throughout 2007. "The last two years have been the longest run of positive business conditions since early 1998 through the end of 2000," said AIA AIA - Application Integration Architecture Chief Economist Kermit Baker, PhD, Hon. AIA. "The inquiries for new projects have been quite strong which suggests that there could be a spike in demand for architectural services in the coming months." |
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