NEW YORK The architectural billings index (ABI) remained positive in June, indicating growth in construction for the second month in a row, after billings contracted in April for the first time in 10 months.
The American Institute of Architects (AIA) put the June ABI at 51.6, down from 52.9 in May, reflecting an increase in demand for design services. The strongest growth was seen in the Northeast (55.6) and the South (54.8), while the weakest growth was in the Midwest (48.3).
The ABI is an indicator for use of steel construction materials cited by U.S. steel mills as a forecast for growth in product lines such as rebar, varieties of wire rod, and other structural products. The ABI reflects an approximate nine- to 12-month lag between construction billings and construction spending.