Despite Slight Drop Architecture Billings Index Continues to Trend Higher

The ABI continues to trend higher, signaling growth, and further improvement is expected over the coming year even as the pace is moderating

July 26, 2016

Wells Fargo Economics Group

As a leading indicator of construction spending, the Architecture Billings Index continues to trend higher, signaling growth.

As a leading indicator of construction spending, the Architecture Billings Index continues to trend higher, signaling growth.

The Architecture Billings Index (ABI) dropped a mere 0.5 points to 52.6 in June but did rise on a three-month moving average. The ABI continues to trend higher, signaling growth, and further improvement is expected over the coming year even as the pace is moderating, according to the Wells Fargo Economic Group.

One area of concern was the design contracts index, which declined for the first time since later 2014.

Residential billings was a high point for the June ABI. Residential building rose 4.2 points to 57.9 — its highest reading since August 2014.

Commercial/industrial and institutional billings slipped for the month but still remain above the 50 threshold. Mixed-billings were unchanged in June.

Regionally, the Midwest was the only region that experienced a billings declines. The South saw the strongest gain increasing 1.8 points to 57.9 in June.

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White Cap has also acquired Crimson Steel Supply, LLC (Crimson Steel), a distributor and fabricator of engineered steel rebar and structural steel products serving non-residential and infrastructure end markets.

White Cap Expands Reach in Oklahoma, Oregon

White Cap has acquired Bend Construction - a supplier of struts, fasteners, anchors, and concrete accessories and products - and Crimson Steel - a distributor and fabricator of engineered steel rebar and structural steel products.

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