Heightened demand for condo and apartment design services in September 2014 signals robust construction industry growth - a boon for the wood manufacturing industry. The Architectural Billing Index expanded in all regions and sectors.
architecture billings index
Demand for Institutional project construction surges in second half of 2014. As a leading economic indicator of construction activity, the ABI reflect nine to twelve month lead time between architecture billings and construction spending.
The Architecture Billings Index reverted into negative territory for the second months. Apri'sl ABI score was 49.6, and reflects a decrease in design activity, with an approximate 9-12 month lead time between architecture billings and construction spending.
The Architecture Billings Index, a forecast of commercial construction, fell in March, with Northeast and Midwest seeing steepest drops. Residential segments are stronger, while demand for institutional design has declined 7 months in a row.
Architectural woodworkers will see their work mirrored in the Architcture Billings Index. The leading index of commercial construction fell, with Northeast and Midwest seeing steepest drop in demand for design services.
August showed further improvement in billings at U.S. architecture firms. The Architecture Billings Index (ABI) score of 53.8 for the month reflected the strongest growth in activity in six months, and marked the twelfth time in the past 13 months that design activity has increased nationally. The strength in recent readings in the ABI, coupled with the extended period that architecture firms have been reporting generally favorable conditions, points to an impending healthy upturn in nonresidential activity.