Billings index hits 2007 levels

Demand for design services have increased over the past three months, pushing the Architecture Billings Index to its highest level since 2007.

The economic indicator shows signs of construction activity, reflecting the nine to 12 month lead time between architecture billings and construction spending.

The index score hit 55.8 in July, up from 53.5 in June, according to the American Institute of Architects (AIA). The new projects inquiry index fell slightly to 66, down from 66.4 the previous month.

'We are well-positioned for continued growth in the coming months,” said Jessica Reinert, the AIA Iowa executive director. 'The Midwest regional average score continues to reflect an increase in billings and our firms are seeing a robust demand for work.”

Other July highlights:

'Regional averages: Northeast (55.5), South (55.1), Midwest (54.1), West (53.5)

'Sector index breakdown: mixed practice (61), multifamily residential (56.5), institutional (53.3), commercial/industrial (51.2)

'Project inquiries index: 66.

'Design contracts index: 54.9

The regional and sector categories are calculated as a three-month moving average, whereas the national index, design contracts and inquiries are monthly numbers.