After a two-month slump, the Architecture Billings Index (ABI) has come back with a vengeance, storming to a score of 50.8 in October. In the months prior, the American Institute of Architects (AIA) reported scores of 49.7 and 48.4 (for August and September respectively). While this may be good news on a national scale, the only region to report positive figures was the South—an area which hasn’t seen a dip in billings growth since June 2012.

Billings by region: Northeast (Orange), Midwest (Blue), South (Red) and West (Green) for the past 14 months. (Courtesy AN)

The ABI, the leading economic indicator of construction activity, reflects a 9 to 12 month lead time between architecture billings and construction spending. The national index, design contracts, and inquiries are calculated monthly, while the regional and sector categories are calculated as a three-month moving average. The index runs on a scale from 0-100 and scores above 50 suggest growth while anything below implies negativity in the market.