Architecture billings rise in October

Architecture billings rose last month.

Total architectural billings increased in October, according to a report from the American Institute of Architects. This could suggest that more property managers plan to take on more buildings in their portfolios.

The level of billings jumped to 52.8 last month, which was much higher than the previous month's figure of 51.6, the institute's Architecture Billings Index showed. This was the third consecutive month where the figure was billings rose, which can be identified by any figure higher than 50.

"With three straight monthly gains – and the past two being quite strong – it's beginning to look like demand for design services has turned the corner," said Dr. Kermit Baker, chief economist for the AIA. "With 2012 winding down on an upnote, and with the national elections finally behind us, there is a general sense of optimism."

The projects inquiry figure rose to 59.4 last month, which was an improvement from September's level of 57.3, the report added. The multifamily sector had the best performance of the four examined, with a figure of 59.6. However, the commercial/industrial sector was the only reading below 50.

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