The Architecture Billings Index is up, hitting 52.0 in November, the first positive ground since touching 51 in August (anything over 50 indicates an increase in billings). The roller-coaster volatility of the past few months—we held our breath and skipped reporting September’s down and October’s up—suggests cautious optimism that the index which tracks the approximate nine-month lag time between architecture billings and construction spending is finally in a solid swing upwards.
The Architecture Billing Index (ABI) dropped nearly four points in January, but just managed to stay in positive territory with a score of an even 50 (any score below 50 indicates shrinking billings). The new projects enquiry index also fell significantly from 61.6 in December to 56.5 in January, but remained comfortably in positive territory. Even with the fall in the indexes, the AIA believes the overall trend is stable with mild growth.
Yesterday, we reported on the continued improvement of the AIA Billings Index, which has shown its best performance in two years. While things have not totally recovered yet, there is more to this story than just number. We’ve been hearing stories, too, of those so-called green shoots popping up here and there. Take for example a recent tweet by Gensler heralding the 63 spots that the firm is trying to fill across the globe. The simple missive—”Sign of the times: we’re hiring for 63 positions!”—ricocheted around Twitter, a sign of hope and promise among those wired architects. Clearly, this is the kind of good news people are looking for, so we want to hear more. Please leave your stories in the comment section below or send them to editor[at]archpaper.com. We’ll try and highlight them in a few days.