REPEAT: US Architecture Billings Index Rises To 53.7 In August

Repeats Story Initially Transmitted at 04:00 GMT Sep 20/00:00 EST Sep 20

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

Billings Index rose to a reading of 53.7 in August from 51.9 in July, 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 62.5 in August from 59.5 in July. 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 to 54.2 from 56.4 in July. 

     "The August results continue a string of very positive readings from the

design professions, pointing to future healthy growth across the major

construction sectors, as well as across the major regions of the country," said

AIA Chief Economist Kermit Baker. "Given the focus and discussions around the

infrastructure needs of the nation, we expect strong growth in design activity

for the coming months and years."

     The index for the multi-family residential sector fell to 53.8 and the

institutional sector's reading slipped to 50.1, while the commercial and

industrial sector's reading rose to 57.6 and the mixed use sector's reading

moved back above 50 to reach 52.5, indicating positive growth in every sector. 

     The billings index was also above 50 in every region of the country. 

     Housing starts and permits data for August were released on Tuesday morning

and indicated a slower pace of starts, but faster permits growth. The impact of

Hurricanes Harvey and Irma should be seen in the September data. The data on

construction spending for nonresidential structures in August will be released

on October 2 at 10:00 a.m. ET. 

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