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| ABI indicates modest construction growth for October  Following housing construction numbers from the Department of Commerce that dropped to their lowest level in over six years, the Architecture Billings Index (ABI), a leading economic indicator of construction activity, continued along the path of modest growth in October. Sustained demand for nonresidential projects should continue to offset the lagging housing market's effect on the overall economy, and future growth in construction activity will come primarily from the commercial / industrial and institutional markets. There is an approximate nine to twelve month lag time between architecture billings and construction spending, projecting a healthy outlook for the nonresidential construction market throughout 2007. The American Institute of Architects (AIA) reported the October ABI rating was 51.1 (any score above 50 indicates an increase in billings), and inquiries for new projects was 62.7.write your comments about the article :: © 2006 Construction News :: home page |