Billings by U.S. architects, a barometer of order in commercial real estate, raised in September for the first time in almost three years, suggestive of a recuperation in construction spending might be under way, a survey showed.
The Architecture Billings Index augmented to 50.4 from 48.2 in August, the first gain in fees since January 2008, when the directory was at 51.1, according to the Washington-based American Institute of Architects. Any reading above 50 indicates an augment in billings.
Real Estate Command for architects’ services have started to rebound after the depression, spurred by the global credit crisis, troop the index down to 33.9 in January 2009, the lowest since the institute began tracking the data in 1995. Accommodation starts in the U.S. also rose in September, surpassing economists’ estimate, the Commerce Department said yesterday.
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