Billings at architecture firms across the country continue to increase,according to the latest report from the American Institute of Architects(AIA).The Architecture Billings Index(ABI),which reflects the approximate nine-to twelve-month lag time between architecture billings and construction spending,was 53.2 for the month of November,up from 52.8 in October.
According to AIA,the November score reflects an increase in demand for design services(as any score above 50 indicates an increase in billings).The new projects inquiry index was 59.6,up slightly from 59.4 for the previous month.
"These are the strongest business conditions we have seen since the end of 2007 before the construction market collapse,"says AIA chief economist Kermit Baker,PhD,Hon.AIA."The real question now is if the federal budget situation gets cleared up,which will likely lead to the green lighting of numerous projects currently on hold.If we do end up going off the'fiscal cliff'then we can expect a significant setback for the entire design and construction industry."
