NEW YORK — The American Institute of Architects (AIA) reports that construction activity in the United States rebounded in October, according to Reuters.
The monthly architecture billings index (ABI) increased by 2.5 points to 49.4 last month. Any reading below 50 shows an overall decrease in demand for design services, which predicts construction spending within the next nine to 12 months.
Additionally, a separate index of requests for future projects increased three points to 57.3. While the rebound is encouraging, demand for design services remains unstable, AIA states. The group notes conditions in various geographical regions range from improving to poor with conditions being strongest in the Northeast and weakest in the West.
The depressed construction market has affected security systems manufacturers and integrators who earn revenue from the commercial construction sector. The segment includes office buildings, retail and warehouse space, schools and hospitals.
Source: Reuters
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