By Brian Johnson
Dolan Media Newswires
Architecture billings were up in May after a setback in April, according to the American Institute of Architects.
AIA’s Architecture Billings Index, an indicator of future construction spending, came in at 52.9 in May, up from a disappointing 48.6 in April, the AIA announced this week. Any reading over 50 indicates an increase in billings.
“This rebound is a good sign for the design and construction industry and hopefully means that April’s negative dip was a blip rather than a sign of challenging times to come,” AIA chief economist Kermit Baker said in news release.
“But there is a resounding sense of uncertainty in the marketplace – from clients to investors and an overall lack of confidence in the general economy — that is continuing to act as a governor on the business development engine for architectural firms.”
Among regions, the Northeast had the highest score (53.7), followed by the West (52.1), the South (50.9) and the Midwest (47.5). The sector breakdown was multifamily residential (52.8), institutional (52.2), mixed practice (51.0) and industrial (47.5).