Reply #12: US architecture billings index rebounds in August [View All]

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http://www.guardian.co.uk/business/feedarticle/9857661

NEW YORK, Sept 21 (Reuters) - A leading indicator of U.S. nonresidential construction activity surprisingly rebounded last month after four months of declines, an architects' trade group said on Wednesday.
The architecture billings index jumped to 51.4 last month from 45.1 in July, according the American Institute of Architects. Any reading above 50 indicates rising demand for design services, a predictor of construction spending nine to 12 months in the future.
"Based on the poor economic conditions over the last several months, this turnaround in demand for design services is a surprise," said AIA Chief Economist, Kermit Baker.
A separate index of inquiries for new projects, typically higher than the ABI, rose to 56.9 in August from 53.7.