The Architecture Billings Index (ABI) remained positive again in June after the first decline in ten months in April, according to the American Institute of Architects (AIA).
The June ABI score was 51.6, down from a mark of 52.9 in May, reflecting an increase in demand for design services. The new projects inquiry index was 62.6, up sharply from the reading of 59.1 the previous month.
"With steady demand for design work in all major nonresidential building categories, the construction sector seems to be stabilizing," commented AIA Chief Economist, Kermit Baker, PhD, Hon. AIA.
"Threats to a sustained recovery include construction costs and labor availability, inability to access financing for real estate projects, and possible adverse effects in the coming months from sequestration and the looming federal debt ceiling debate."
Key June 2013 ABI Highlights
Regional averages: Northeast (55.6), South (54.8), West (51.2), Midwest (48.3)
Sector index breakdown: commercial / industrial (54.7), multi-family residential (54.0), mixed practice (52.4), institutional (51.8)
Project inquiries index: 62.6