Architecture billings rise, hit first positive month since spring

Architectural billings rose in August.

The American Institute of Architects released a report that showed architectural billings rose during August, and reached a positive level for the first time in five months.

More property management companies and investors may be looking to build in the near future, as the AIA's Architecture Billings Index rose to 50.2 in August, a stark improvement from the previous month's 48.7. Additionally, the projects inquiry index rose to 57.2 from July's 56.3. Any figure above 50 showed that there was an improved level of billings.

"Until the economy is on firmer ground, there aren't likely to be strong increases in demand for design services," said Dr. Kermit Baker, chief economist for AIA. "In the meantime, we can expect to see design activity alternate between modest growth and modest decline."

AIA also showed that the South experienced the best month out of the four regions listed. The 52.2 in August was one percentage point better than the West, though these were the only two regions in positive territory. The Northeast and Midwest both had levels lower than 46.

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