REPEAT: MNI: US Architecture Billings Index Rises To 51.7

Repeats Story Initially Transmitted at 05:00 GMT Nov 15/00:00 EST Nov 15

     WASHINGTON (MNI) - The American Institute of Architects' Architecture

Billings Index rose to a reading of 51.7 in October from 49.1 in September,

returning to the recent string of positive growth, the AIA reported Wednesday.

     The ABI is a diffusion index, with any reading below 50 representing a

decline in billings and reading above 50 representing growth in billings.

     The AIA said that lag between the ABI and construction spending is about

nine to twelve months.                                                     

     The new projects inquiry index rose to 60.2 in October from 59.0 in

September. At the same time, the AIA's measure of design construction, which is

meant to provide an earlier signal of the direction of billings by bridging the

gap between inquiries and actual billings, fell very slightly to 52.8 from 52.7

in September. 

     "As we enter the fourth quarter, there is enough design activity occurring

that construction conditions should remain healthy moving through 2018," said

AIA Chief Economist Kermit Baker. "Extended strength in inquiries and new design

contracts, along with balanced growth across the major building sectors signals

further gains throughout the construction industry.

     All four sectors had readings that remained above the 50.0 breakeven point,

though they were lower than in September. The index for the multi-family

residential sector fell to 50.7, while the mixed use sector's reading declined

to 50.7 and the commercial and industrial sector's reading fell to 51.2. The

institutional sector's reading declined to 50.7 from 51.0. 

     The billings index was above 50 in the Northwest and South, but below 50 in

the Midwest and West. 

          Housing starts and permits data for October will be released Friday at

8:30 a.m. ET, while data on construction spending for nonresidential structures

in October will be released on December 1 at 10:00 a.m. ET. 

--MNI Washington Bureau; tel: +1 202-371-2121; email: kevin.kastner@marketnews.com