Good news for the U.S. architecture industry
April had seen the first dip into negative territory for the index in nine months, which now seems for certain to be an outlier. With a national score of 51.6, down from May’s 52.9, June’s overall rate of growth did cool off a little, but the industry is still on the rise.
But the slight softening of the national score was the only (minor) let down in June. Every other yardstick in the index improved. All of the scores for the nation’s regions and the industry’s sectors saw a higher score in June.
The score for project inquiries came in at 62.6, up from May’s 59.1, and it was the first time since March that the inquiries score topped 60. In fact, four of the six months of 2013 have seen the project inquiries index coming in above 60, a good sign for future billings.
The ABI’s data also continues to track well with the U.S. Department of Labor’s Bureau of Labor Statistics’ recent employment report. The BLS reported 195,000 jobs added to the economy in June, with the architectural and engineering services sector of the economy adding another 3,000 jobs. Steady monthly growth in billings are marching in step with a steady increase in jobs.